Business / Industries

China and Russia cooperate on liquefied natural gas project

By Lyu Chang ( Updated: 2015-11-17 16:11

China and Russia are pressing ahead with the Yamal liquefied natural gas (LNG) project in Russia's offshore Arctic area, according to senior officials.

China's Vice-Premier Zhang Gaoli said that the strategic partnership between the two countries has continued at a high-level of development and he also pledged both parties to take an active part in the build-up of more flagship projects in energy cooperation.

Zhang made the remarks during the 12th Meeting of the China-Russia Energy Cooperation Committee in Beijing in preparation for the upcoming 20th Regular China-Russia Prime Ministers' Meeting.

During the meeting, both countries agreed to deepen energy cooperation over the construction of an eastern natural gas pipeline as well as projects for western natural gas and Yamal liquefied natural gas (LNG), according to a report by Xinhua News Agency.

In addition, both parties will make sure that the construction of a China-Russia crude oil pipeline goes smoothly and at the same time expand cooperation in the sector of energy equipment.

Earlier reports said that China and Russia are expected to sign contracts for the Yamal LNG project in December.

In September, the $40 billion Chinese Silk Road Fund acquired a 9.9 percent stake in Yamal LNG without disclosing detailed information about the price.

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