Russian President Vladimir Putin and Chinese President Xi Jinping participated in the launch ceremony of the Power of Siberia gas pipeline, via teleconference, the Kremlin website reports.
Supplying Russian pipeline gas to China takes Russian-Chinese strategic energy cooperation to a qualitatively new level, Putin noted at the ceremony, mentioning the goal to increase bilateral trade to $200 bln by 2024.
The supply contract the two countries signed in 2014, “Was the largest agreement in the history of the domestic gas industry. The Power of Siberia gas pipeline will deliver more than a trillion cubic meters of natural gas to China over 30 years,” he said. “This contract kick-started an unprecedented high-tech project in eastern Russia – a new gas production centre was developed from scratch in severe climatic conditions in Yakutia. We are developing the Chayandinskoye project, a unique gas field in terms of reserves. The pipeline is under construction and will eventually stretch across some 3K kilometers of Russia. For Russia, this project is important not just for export but also because it will deliver gas to the Amur Gas Processing Plant, which will become one of the most powerful in the world.”