China Inches Closer To Russian Pipeline Deal

23 Oct 2014: Accompanied by Chinese president Xi Jinping, officials from China National Petroleum Corp made a whirlwind tour through Russia and Central Asia in September. The trip was made largely as an attempt to successfully cement and diversify Beijing’s gas supply relationships in the region. The G20 Summit, held in St. Petersburg on September 5-6, once again spotlighted the long-awaited but so far elusive pipeline deal between Russia and China. After a decade of negotiations, the two sides finally seemed to be inching closer to an agreement during meetings in St Petersburg.  But they remain far apart on price. Beijing isn’t holding its breath, with the Chinese delegation stopping off in Turkmenistan on its way to the summit in order to line up further gas supplies from the Central Asian country. China’s appetite for gas shows no hint of abating, despite signs of an economic slowdown. Download here