Asian procurement process gets affected by Russia-China natural gas agreement

By Admin On 12 Jun 2014 in Energy and Related Services

The countries in the East Asian region of the world have invested in procurement services to assist them bring in affordable energy. Due to lack of lucrative trade agreements between both the public and private bodies all over the expansive location has made the cost of electricity uneconomical for a large number of masses.

Lately, two economic giants settled a deal that will mostly pacify the preceding issue. China recently strengthened a $400 billion deal last month to acquire Russian natural gas, a step that will anticipate gain to the neighboring nations, including Taiwan and South Korea. A new pipeline linking to Siberian gas fields is expected to transport the resource to China, which will progressively traffic 38 billion cubic meters a year.

Japan is the major beneficiaries of this contract award , which pays the world’s highest value for energy, acquires a third of global liquefied natural gas shipments. Last year, the Japan spent 7.06 trillion yen ($70 billion) in 2013, mainly to support electricity formation to substitute the latent nuclear reactors that were pulled out of commission as a result of the Fukushima disaster in 2011. Read complete story at http://www.tendersontime.com/blog-detail/asian-procurement-process-getsffected-russia-china-natural-gasgreement-16.php