Novak: Russian and Chinese companies should immediately agree on Power of Siberia 2 project
MOSCOW, March 21 – RIA Novosti. Russian Deputy Prime Minister Alexander Novak told reporters that he instructed the leaders of Russia and China to agree on the terms of the Power of Siberia 2 project and sign them as soon as possible.
Novak said, “Companies were instructed to examine the details of the project in detail and sign them as soon as possible. Such instructions were given to reach an agreement on the terms. I hope it will happen this year.”
The expert told why China needs the Power of Siberia-2 project
Earlier on Tuesday, Russian President Vladimir Putin said that almost all parameters of the Power of Siberia 2 project in the expanded format were agreed at the Russia-China talks.
The first pipeline gas supply to China through the Power of Siberia gas pipeline began at the end of 2019 and reached 4.1 billion cubic meters in 2020 and doubled to 10.4 billion cubic meters the following year. As the project progresses, it is planned to increase the delivery volume annually until it reaches a design capacity of 38 billion cubic meters per year by 2025.
The development of the “Chinese vector” is also associated with two promising ways. A supply contract of 10 billion cubic meters per year was signed on the “Far East” route. The Power of Siberia 2 pipeline is also being built through Mongolia, 50 billion cubic meters per year.
On March 20, Gazprom delivered a record amount of gas to China through the Power of Siberia.
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