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Economy
11/05/2011
CNPC, Uzbekneftegaz to ink “firm” contact on gas supply
CNPC, Uzbekneftegaz to ink “firm” contact on gas supply
Tashkent, Uzbekistan (UzDaily.com) --
China National Petroleum Corporation (CNPC) and Uzbekneftegaz national holding company are planning to sign a contract on supply of Uzbek gas to China in the fourth quarter of 2011.
The “firm contract” envisages start of Uzbek gas supply to China in the end of 2011 and early 2012 on current international market prices. The volume and terms of the contract are not revealed.
CNPC and Uzbekneftegaz signed the agreement on main agreement on sale-purchase of the Uzbek natural gas in the end of April 2011, within which the sides are discussing terms of basic contracts.
In June 2010, CNPC and Uzbekneftegaz signed framework agreement on sale-purchase of natural gas at the volume of 10 billion cubic meters a year. The gas will supplied to China through Central Asia-China gas pipeline.
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