Moscow and Beijing are launching the “Power of Siberia”. A new gas pipeline was built in 2014, will pump 38 billion cubic meters of gas from the Chayanda and Kovykta fields in Heihe, China.
Russian President Vladimir Putin and Chinese President XI Jinping December 2, 2019 in a videoconference will take part in the ceremony of launching Russian gas supplies to China.
The project “Power of Siberia” is the key to a new Russian gas policy. If earlier as the main market was considered to Europe, now more and more attention is paid to Asia, primarily China.
In may 2014 Gazprom signed with CNPC a contract to supply 38 billion cubic meters of gas per year. Total amount for 30 years — $ 400 billion. Commissioning of the gas pipeline “Power of Siberia” will allow Russia to occupy 10-15% of the Chinese gas market.
Contractual obligations the company Gazprom on gas supplies to China through the pipeline “Power of Siberia” for the next three years amount to 5, 10 and 15 billion cubic meters per year. In the first stage fuel supply through the pipeline “Power of Siberia” will be carried out with Chayanda field.