Rosneft and Beijing Gas to build infrastructure network in Russia

The Russian Rosneft oil giant and Chinese Beijing Gas have agreed on Wednesday on the main conditions of creating a joint enterprise to build 160 gas stations in Russia, Rosneft said in a statement.

Beijing Gas Group Company Limited is part of the Beijing Enterprises Group Limited, which is one of the leading companies in the natural gas sector, gas infrastructure construction and energy production in Beijing region.

Last year, Russian oil giant Rosneft has closed the sale of a 20-percent stake in Verkhnechonskneftegaz (VCNG) to China's Beijing Gas Group Company Limited for $1.1 billion.

Moreover, Rosneft and Beijing Gas are reportedly considering options for developing integrated cooperation in Eastern Siberia and the Far East, involving exploration of hydrocarbons, development of fields, production and sale of gas.