Gazprom plans to deliver gas to energy-hungry China from 2015, Deputy Chief Executive Alexander Medvedev said, as the company opens one of the world's largest economies for Russian supplies of the fuel. "We should finalise commercial contracts in the middle of next year," Medvedev told Reuters Insider TV on Thursday. That will enable Gazprom to deliver gas from "2015 to the western corridor" of China, he said.

The two parties are negotiating for China to pay market prices for the fuel, Medvedev said. "We don't see any reason why China will not be in a position to pay a reference price," he said, specifying that he was referring to "market prices". State-owned Gazprom would have enough gas to supply Europe - currently the company's key market - and China, the executive said.

Copyright Reuters, 2010