OREANDA-NEWS Within the framework of the "One Belt, One Road" summit, currently taking place in Beijing, the Kazakh company QazaqGaz signed a new contract for the supply of natural gas to China with PetroChina International, the LS portal reports.

According to the operator, the new agreement, designed for the period 2023-2026, will bring cooperation on the export of Kazakh gas to China to a new level. Negotiations on it took place throughout 2023. No other details of the transaction, including the possible volume of deliveries, are given.

Kazakhstan has been selling gas to China for a long time, but Astana's new agreement with Gazprom may take the deal to a new level. Purchases of Russian gas will allow Kazakhstan to release significant volumes of its own production for export, and in the case of attractive prices, such a contract will be profitable.

Uzbekistan is also going to increase the sale of its gas to China in a similar way. Russian President Vladimir Putin launched Russian gas supplies to Uzbekistan and Kazakhstan in early October.

Moscow initiated the "triple gas union" with these countries against the background of a sharp drop in gas sales to the European market. The cost of the signed contracts is not disclosed, but in Kazakhstan it has been repeatedly called profitable for the country.