Russia, China sign deal for power of Siberia 2 gas pipeline — IFX
Posted 3 months ago by Admin Myktex 1 in Economy
(Sept 2): Russia’s Gazprom PJSC signed a legally binding agreement to build the Power of Siberia 2 gas pipeline to China via Mongolia and agreed to expand deliveries via two other routes.
(Sept 2): Russia’s Gazprom PJSC signed a legally binding agreement to build the Power of Siberia 2 gas pipeline to China via Mongolia and agreed to expand deliveries via two other routes.
The gas producer is set to ship as much as 50 billion cubic metres a year via the Power of Siberia 2 for 30 years, Russian news wires reported, citing CEO Alexey Miller in Beijing. The price for the fuel will be lower than what Gazprom currently charges customers in Europe, Miller said, according to the reports.
By reaching an agreement for the new pipeline, Gazprom aims to expand its role as a key pipeline gas supplier to the Asian nation and partially replace lower European deliveries following the invasion of Ukraine.
The producer agreed to raise flows to China via the existing Power of Siberia route by another six billion cubic metres a year, according to the reports. Its current annual capacity is 38 billion cubic metres.
Flows via the future Far Eastern link to China, earmarked to start in 2027, will also be above the initially planned 10 billion cubic metres a year, according to the reports.
(Source: The Edge)