Beijing wants more Russian gas as Gazproms mega pipeline to China nears completion

China is interested in extra supplies of Russian gas through the Power of Siberia pipeline which is nearing completion, according to the Russian state-run energy giant, Gazprom, that is implementing the project.

“The Chinese partners are very interested in additional volumes, though the final amount as well as the price is not agreed yet,” the head of Gazproms export branch Elena Burmistrova said at the companys news conference in Moscow.

The top executive stressed that the Russian energy major expects formal arrangements on the issues to be reached in the near future.

Also on Russias share of European gas market surges to almost 37%, dwarfing LNG imports

The Power of Siberia is a 4,000km (2485 miles) long pipeline which is aimed at delivering natural gas from the Russian region of Yakutia to Primorsky Krai and then to Asia. Gazprom, which is constructing the Russian part of the pipeline, is planning to export 38 billion cubic meters of the blue fuel to China by 2025.

Gazprom and the China National Petroleum Corporation (CNPC) signed a 30-year contract for gas supplies via the Power of Siberia in 2014. Last September, the Russian firm reported the pipeline running from Yakutias gas production centers to the Chinese border, was almost complete.

Construction on the Chinese side started in April 2017, and is reportedly close to completion. The pipeline is expected to start operating in December 2019.

Also on Russias Gazprom to start China gas pipeline by December 1

Earlier this year, Gazprom announced plans to invest $2.24 billion in the project. Moreover, the company intended to Read More