A Number of Cooperation Agreements Signed between CNPC & Its Partners

Source: www.gulfoilandgas.com 5/22/2017, Location: Asia

On the occasion of the “Belt and Road Forum for International Cooperation”, CNPC entered into a number of agreements with its partners to deepen and expand cooperation in project financing, pipeline transportation, storage construction, oil and gas supply and natural gas power generation. The signing of these agreements is of positive and great significance to the further consolidation of the partnership between China and countries along the Belt and Road route and the promotion of economic and social development.

On the morning of May 13, Wang Yilin met with Alisher Sultanov, Chairman of Uzbekneftegaz. During the meeting, they spoke highly of bilateral oil and gas cooperation, and compared notes on further strengthening natural gas trade, reforming gas storages, enhancing the recovery of mature oil and gas fields, and building new projects. Then, Wang Yilin and Sultanov signed the Supplementary Agreement to the Purchase and Sales Contract between CNPC and Uzbekneftegaz and the Memorandum of Understanding on GazilGas Storage Cooperation between CNPC and Uzbekneftegaz. They also jointly witnessed the signing of the Agreement between China National Petroleum Corporation, Bank of China and Uzbekneftegaz for Financing Loan for New Silk Road Project.

On the morning of May 15, Wang Yilin met with Rovnag Ibrahim Abdullayev, President of State Oil Company of Azerbaijan Republic (SOCAR). During the meeting, the two sides exchanged extensive views on implementing the existing cooperation projects and accelerating cooperation in the upstream and downstream sectors and with third countries. The two sides pledged to make constant efforts to expand and deepen cooperation while further consolidating the existing projects, so as to create more opportunities for cooperation under the Belt and Road Initiative. Before the meeting, Wang Yilin and Abdullayev had jointly witnessed the inking of the FEED/OBCE Contract for Azerbaijan Natural Gas Chemical Project.

On the afternoon of May 14, Wang Yilin signed in China National Convention Center in Beijing the Memorandum of Understanding on Investment and Financing Cooperation between CNPC, China Development Bank and SOCAR for Azerbaijan Natural Gas Chemical Project with Abdullayev and Hu Huaibang, Chairman of China Development Bank.

On the morning of May 15, Wang Yilin met with Alexey Miller, Chairman of Gazprom Management Committee. During the meeting, they discussed important issues on strategic cooperation and some specific issues on gas pipeline construction and gas supply to China. Before the meeting, Wang Yilin and Miller, Liu Qitao, Chairman of China Communications Construction Company Limited, and Sergey Kelbakh, Chairman of Russian Highways State Company signed the Memorandum of Understanding on Strategic Cooperation between CNPC, CCCCLTD, Gazprom and Russian Highways State Company in Using LNG as Vehicle Fuel for Trunk Road Transport. After the meeting, Wang Yilin and Miller entered into the Memorandum of Understanding on Tripartite Cooperation between CNPC, Gazprom and China Huaneng Group in Natural Gas Power Generation, and witnessed the signing of contracts for technical services including underground gas storage construction. Under the agreements, comprehensive cooperation will be carried out in terms of underground gas storage construction, natural gas power generation, and LNG supply.

On the afternoon of May 15, Wang Yilin met with Igor Sechin, CEO and Chairman of the Management Board of Rosneft. During the meeting, the two sides said that as strategic partners playing an important role in the cooperation along the Belt and Road route, they will further expand crude oil trade and work together to increase crude supply; they will fully respect the law of the market and promote the cooperation project of Orient Petrochemical Tianjin Refinery; they will strengthen upstream cooperation through careful studies and explore cooperation in third countries.

After the meeting, on behalf of CNPC and Rosneft respectively, Wang Yilin and Sechin signed the Agreement between CNPC and Rosneft for Establishing Joint Coordination Committee. Under the agreement, the two sides decided to set up a joint coordination committee to promote pragmatic cooperation between CNPC and Rosneft in various fields.

On the afternoon of May 15, Wang Yilin met with Sauat Mynbayev, Chairman of KazMunaiGas. The two sides pledged to jointly operate the existing projects, cherish the cooperation achievements made over the past two decades, strengthen communication and exchanges for work, work to solve problems during cooperation, consolidate and deepen the friendship between the two sides, and promote smooth progress in oil and gas cooperation. They also exchanged views on strengthening technical exchanges and improving pipeline construction.


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