Gazprom, CNPC win Siberia Pipeline Construction Deal

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Gazprom, CNPC win Siberia Pipeline Construction Deal

Gazprom and CNPC sign EPC contract to construct underwater crossing of Power of Siberia.

Alexey Miller, Chairman of the Gazprom Management Committee, and Wang Yilin, Chairman of the Board of Directors of CNPC, today signed on the sidelines of the G20 summit in Hangzhou, China, an EPC contract to construct a crossing under the Amur River within the cross-border section of the Power of Siberia gas pipeline.

According to the contract, the crossing will be built using shield tunneling methods. China Petroleum Pipeline, CNPC’s pipe-building subsidiary, is the contractor for the project.

Background

CNPC is China’s state-owned oil and gas company and one of the world’s leading integrated energy companies.

In 2014, Gazprom and CNPC signed the Sales and Purchase Agreement for gas to be supplied via the eastern route (Power of Siberia gas pipeline). The 30-year Agreement provides for Russian gas deliveries to China in the amount of 38 billion cubic meters per year.

An EPC (engineering, procurement, and construction) contract is a type of contract in the construction industry that provides for the delivery of engineering, equipment and materials procurement, and construction services.

Gazprom is a global energy company focused on geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, sales of gas as a vehicle fuel, as well as generation and marketing of heat and electric power.

They are the only producer and exporter of liquefied natural gas (LNG) in Russia. The Company is successfully expanding its LNG sales within the existing Sakhalin II project and implementing new initiatives in order to substantially strengthen its position in the fast-growing global LNG market.

Source: www.gazprom.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.