Purchase Russias natural gas China switch to ruble and RMB payment

(Comprehensive News) When sanctioning Moscow in Western countries, Russian Natural Gas Industry Corporation announced that China ’s procurement of Russian natural gas will be paid with rubles and RMB.PetroChina also signed an additional agreement with the Sino -Russian Eastern Line Natural Gas Purchase and Sale Agreement.

According to the Sino -Singapore Jingwei report, Russia's Natural Gas Industry Corporation announced on Tuesday (September 6) that it would change the method of exporting natural gas exports to China from the euro and the US dollar to the ruble and RMB.However, Russia did not provide further details of the payment mechanism, nor did it explain when the payment method was converted to rubles and RMB.According to China Petroleum Network, during the seventh Eastern Economic Forum held at the Federal East Federal University of Russia, Dai Houliang, Chairman of China Petroleum, held a video conference with the president of Russia Miller on Tuesday to communicate extensively on the field of natural gas.Related supplementary agreement on the Eastern Line Natural Gas Purchase and Sale Agreement.

Phoenix.com reports that Russian President Putin also mentioned at the Plenary Session of the Oriental Economic Forum on Wednesday (September 7) that China -Russia's natural gas settlement method will be carried out in the same proportion of rubles and RMB.

As of December 2, 2021, the natural gas pipeline of the China -Russia East Line has been in operation for two years, and has transported nearly 13.6 billion cubic meters of natural gas to China.

The China -Russia Eastern Line's Natural Gas Pipeline in the country starts from Heilongjiang Province, Heilongjiang Province, to Shanghai in the south, and the pipeline is 5111 kilometers in length.The whole line is divided into three sections of the north, middle and south sections, and pass through nine provinces, municipalities, and autonomous regions including Heilongjiang, Inner Mongolia, Tianjin, Jiangsu, and Shanghai.At present, both the northern and middle sections have been put into operation.