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Gazprom is preparing to increase the volume of gas supplies to China and switch to payment in yuan or rubles

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08 September 2022

Russian Gazprom has begun designing a new gas pipeline to China along the Far East route and signed an addendum to the Gas Purchase and Sale Agreement with CNPC, which allows mutual settlements in yuan or rubles. This was reported on the official website of Gazprom.

 During the talks between the leaders of Gazprom and CNPC, it was also reported that the Russian company would fulfill its obligations to increase gas supplies to China in 2023 using raw materials from the Kovykta field.

 The head of Gazprom, Alexei Miller, called the transition to a new payment mechanism a mutually beneficial and timely decision that will become an example for other companies.

 It is noteworthy that earlier, at the auction of the State Commodity and Raw Materials Exchange of Turkmenistan, the Turkmen side concluded a deal to purchase goods from suppliers from Russia for Turkmen manats.