CPECC's Russian deal to secure gas supplies

China Petroleum Engineering & Construction Corp recently signed an EPC - engineering, procurement and construction - project contract with Russian gas giant Gazprom to take part in construction of the Amur gas processing plant, a move which will secure domestic gas supplies.

Investment in the project is estimated to total $15 billion to $20 billion, and construction will take eight years.

After the project is completed, the plant's annual capacity will reach 42 billion cubic meters of gas, and up to 38 billion cu m will be transported to China.