Rosneft and Beijing Gas Group Company Limited (hereinafter referred to as Beijing Gas) in the framework of the IV Eastern economic forum signed an Agreement embodying the basic terms of the joint venture (JV) for the construction and operation of a chain of automobile CNG filling stations in Russia (CNG stations).
Under the Agreement the parties plan to build over 160 CNG stations in Russia and the possibility of using LNG as natural gas motor fuel is being discussed.
Commenting on the Agreement, Igor Sechin said: źThe creation of a filling stations chain for vehicles running on gas, is an important contribution to improvement of the ecological situation in the country, and corresponds with the Strategy Rosneft-2022 and with the President's order on the necessity of developing in this direction. We believe that the experience of Beijing Gas in construction and operation of CNG stations on the competitive market of China will help in the realization of such project in Russia. Also, the Agreement signed today will let us deepen the strategic partnership with Beijing Gas╗.
Notes for Editors:
Beijing Gas Group Company Limited is a part of Beijing Enterprises Group Limited and is a leading company in the field of natural gas supplies, construction of gas infrastructure and power generation in the Beijing region. The Company manages over 20 gas projects in the People's Republic of China, and also owns the marine terminal for storage and handling of LPG in Guadao with design capacity of 6 million tons per year.
In June 2017, Rosneft and Beijing Gas Group Company Limited closed the deal on sale of 20% shares of Verkhnechonskneftegaz to the Chinese company. Price of purchased shares amounted to approximately USD 1.1 billion.
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