Beijing hosted commercial negotiations between Gazprom and China National Petroleum Corporation (CNPC) delegations, which were held within another round of Russia-China Energy Dialogue. Gazprom’s delegation was led by Deputy Chairman of the Management Committee Alexander Medvedev, CNPC’s delegation – by Vice President Wang Dongjin.

The parties agreed on the key indicators and parameters of future Russian natural gas supplies to the PRC market that are slated for 2015 as stipulated by the Memorandum of Understanding between Russia and China on cooperation in the natural gas sector signed in June 2009 and the Roadmap representing a Supplement to the Memorandum and determining concrete actions for developing interaction between the parties.

Based on the results of the Russia-China Energy Dialogue meeting held in Tianjin, Alexander Medvedev emphasized that Gazprom and CNPC were going to sign in late September 2010 an extended version of the Basic Terms and Conditions for natural gas supplies to China that would be taken as the basis for the future contract.