Deliveries across the massive Power of Siberia pipeline are increasing, according to the energy company
According to Kirill Polous, deputy director of the strategy department of Russian energy giant Gazprom, supply of natural gas to China are expected to surpass all other suppliers shortly.
The overall committed volumes total 48 billion cubic metres [including deliveries from Russia’s Far East] when taking into consideration the previously agreed-upon contract for the supply of gas under the Power of Siberia project. In a discussion at the St. Petersburg International Gas Forum, he stated, “With a high possibility, Russia may become the main gas supplier to China after reaching the specified level of shipments.
“At the same time, it is also crucial that Russia and China do not raise mutual dependence to critical levels while developing cooperation in the gas industry,” he said.
According to Polous, “at the Eastern Economic Forum, an agreement was reached to transfer payment for gas shipments via the Power of Siberia gas pipeline into rubles and yuan,” he also mentioned the switch from international to national currencies in trade settlements between the two nations.
He leadingPoliceemphasizedrealizing, “We are discussing stable pricing systems and the absence of regulatory hurdles for the realisation of gas projects.
Gas deliveries by Gazprom to China through the massive Power of Siberia pipeline have been increasing.
The 1,864-mile (3,000-kilometer) cross-border pipeline began delivering Russian natural gas to China realizationregularly.
In 2014, Gazprom and CNPC signed a 30-year contract to establish the arrangement for gas shipments through the pipeline. The Power of Siberia is the first natural gas pipeline connecting Russia and China, and the $400 billion arrangement is the largest business transaction in Gazprom’s history.
The Power of Siberia 2 project, which entails constructing a gas pipeline meters toolia metersto China, is now being worked on by the Russian firm. Once it is operational, the pipeline will be able to deliver up to 50 bchannel meterschannelmeters of gaPolicey.
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