Russia and China sign agreement on construction of "Power of Siberia 2" gas pipeline
Russia's "Gazprom" and China's "CNPC" have signed a legally binding memorandum on the construction of the "Power of Siberia 2" pipeline to supply gas from Yamal to China.
According to Censor.NET, citing Russian media, this was announced by Gazprom CEO Alexey Miller.
A transit gas pipeline through Mongolia, "Soyuz-Vostok", will also be built. This project will allow Russia to supply 50 billion cubic metres of gas per year via Mongolia.
It is expected that supplies under the new agreement will be carried out for 30 years.
An agreement was also reached to increase supplies via the "Power of Siberia" gas pipeline from 38 to 44 billion cubic metres per year.
According to Miller, payment will be made in the current period - "50% in roubles and 50% in foreign currency".
The head of "Gazprom" said that the price for China is objectively lower than for Europe.
"The Chinese market is closer, logistics costs are lower, and therefore the price is objectively lower," he explained.
