Russian oil company Rosneft and the China National Petroleum Corporation are supposed to sign a long-term contract for oil supplies to China soon
Russian Energy Minister Sergei Shmatko told journalists that he expects the two companies to start long-term relations, becuase the current oil supply contract between Rosneft and CNPC expires in 2010.
The Russian company will sign preliminary documents with China in the near future, he said, while the final details of the deal may be agreed upon within four to six weeks. While the exact date of contract signing still has yet to be determined, Shmatko noted, the negotiations are drawing to a close.
The document is expected to include a pricing formula. The minister added that the Russian authorities would never exert political pressure on businesses. He also stressed that the contract, being only a framework document, would not specify particular supply routes.
Author:
Ksenia Kochneva
