Gazprom has signed a Memorandum of Understanding (MoU) for a pipeline project to export gas to China.

The document agreed with China National Petroleum Corporation (CNPC) allows the development of the project, which aims to export gas to the Asian country from Russia’s Far East.

In a statement, the Russian gas giant said the deal reflects the parties’ intent to set up a joint working group to conduct research on the project.

The results will determine the key technical and commercial parameters of the project, including terms of delivery as well as a gas delivery point, it added.

Alexei Miller, CEO of Gazprom said: “The project for Russian gas supply from the Far East to China strengthens the strategic and mutually beneficial partnership between our companies.”