Gazprom, CNPC to arrive at exact timing for start of Power of Siberia supplies 'in next few days'
MOSCOW. June 30 (Interfax) - Gazprom and Chinese CNPC will arrive at the exact timing for the start of Russian natural gas supplies to China on the Power of Siberia pipeline "in the next few days," Gazprom CEO Alexei Miller said at the AGM.
Under the terms of the contract, the supplies must begin in the May 2019-May 2021 period. The seller and the buyer have begun consultations on narrowing down that range.
"Today we are finalizing the discussion of the exact timing for the start of supplies along the eastern route on the Power of Siberia gas pipeline in accordance with the contract. The document on that is planned for signing in the next few days," Miller said.
Chinese President Xi Jinping is scheduled to visit Moscow on July 3-4. The agenda for his visit includes "both energy and major projects," Deputy Economic Development Minister Alexei Gruzdev said.
Gazprom Deputy CEO Alexander Medvedev, speaking to Interfax earlier on Friday, did not rule out the signing of important documents with the Chinese partners during Xi Jinping's visit.
"At present, over 800 kilometers of trunk pipeline has been built, over 1,050 kilometers of pipe has been welded," Miller said at the AGM.
In other words, Gazprom has welded nearly half of the overall length of the pipeline, 2,158 km.
"The centerpiece of our strategy in Eastern Russia and the Asia-Pacific region is the Power of Siberia gas pipeline. This is one of the biggest investment projects in the global gas sector. Its goal is to accelerate the socioeconomic development of the Far East and Eastern Siberia. It opens the door for us to the Chinese gas market, the most promising one beyond Russia's borders. Natural gas is becoming a factor in expansion of international cooperation. Gazprom is making its own weighty contribution to this," Miller said.
He confirmed expectations concerning the timing of talks with CNPC on gas supplies from the Sakhalin shelf: "Before the end of 2017 we intend to agree the terms of gas supplies to China on one other route, from Russia's Far East."
