Gazprom Working On Switch To Transactions In National Currencies With China - Executive

Russian energy giant Gazprom is making effort toward switch to transactions in national currencies with foreign gas consumers, including China, Andrey Kruglov, the deputy chairman of Gazprom Management Committee, said on Friday

MINSK (UrduPoint News / Sputnik - 22nd March, 2019) Russian energy giant Gazprom is making effort toward switch to transactions in national currencies with foreign gas consumers, including China, Andrey Kruglov, the deputy chairman of Gazprom Management Committee, said on Friday.

"We are studying this issue ... Transition to transactions in national currencies is one of the things that we are working on.

In principle, the Russian government supports this," Kruglov told reporters, when asked about the possibility to switch to using the Chinese Yuan and the Russian ruble in transactions with China.

Gazprom and the China National Petroleum Corporation signed in 2014 a 30-year framework agreement for the deliveries of 38 billion cubic meters (1.34 trillion cubic feet) of Russian gas annually through the Power of Siberia pipeline. The deliveries are set to start on December 1.