Gazprom Head says CNPC gas talks no longer held up by price

4/3/2013

Gazprom Head says CNPC gas talks no longer held up by price

BY LUKAS I. ALPERT

MOSCOW -- The head of Gazprom said that negotiations with the CNPC over a 30 year natural gas supply deal were no longer being held up by disagreements on price and that a deal could be reached this year.

"Right now, there are no differences" Gazprom CEO Alexei Miller said, according to Interfax.

He said he hoped the main parameters of the deal would be completed by the summer. "We have a fairly tough time schedule and hope that by June we will be able to sign the basic terms of the contract" he said.

Russia has been looking to Asia for sales as demand falls and competition rises in Europe. Under a preliminary agreement reached late last month, the two sides said they hoped to see Russia begin shipping 38 Bcmpa of gas to China in 2018, with supplies eventually reaching up to 60 Bcmpa.

The two companies have been negotiating for years, but have been wrangling over price.

Dow Jones Newswires

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