China Daily: Key gas agreement signed

Energy-rich Turkmenistan will increase its natural gas deliveries to China by two-thirds under an agreement signed on Wednesday, with leaders of the two countries vowing to establish a long-term and stable strategic energy partnership.

The agreement, signed by President Hu Jintao and Turkmen President Gurbanguly Berdymukhamedov after a meeting on Wednesday morning, will increase annual gas deliveries by 25 billion cubic meters a year, bringing the annual total to 65 billion cubic meters “in the near future”, Berdymukhamedov told reporters after the signing ceremony. [Read More]

Reuters: Gazprom buys Belarus pipeline operator

Russian gas export monopoly Gazprom will buy a Belarus pipeline operator and sign a new gas deal with Minsk on Friday, a move that will help to avoid potential gas supply cuts to Europe, the company’s CEO said on Thursday.

“Do you know what will happen tomorrow? We will acquire 100 percent of (pipeline operator) Beltransgaz,” Gazprom’s Alexei Miller told reporters.

Russia’s biggest company already owns 50 percent of Beltransgaz and is prepared to pay $2.5 billion for the remaining stake. [Read More]

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