Putin: Russia and China have agreed on nearly all parameters of agreement on Power of Siberia 2 gas pipeline

MOSCOW. March 21 (Interfax) - Russia and China have agreed during negotiations on the main parameters of the agreement on constructing the Power of Siberia 2 gas pipeline, Russian President Vladimir Putin said during talks with Chinese President Xi Jinping in an expanded format, which are taking place in the Kremlin on Tuesday.

"Practically all the parameters of the agreement have been agreed. This is 50 billion cubic meters of gas," Putin said.

Putin noted that Russian companies are ready to meet the growing demand of the Chinese economy for energy.

"Russian businesses are able to meet the growing demand on the part of the Chinese economy for energy resources, both as part of current projects and those that are currently being negotiated. The total volume of gas supplies will be at least 98 billion cubic meters by 2030, plus 100 million tonnes of liquefied natural gas [Russia's goal for LNG production is 100 million tonnes by 2030]," Putin said.

Vladimir Putin also noted that Russia and China are ready to create a joint working body for development of the Northern Sea Route (NSR).

"We see promising cooperation with Chinese partners to develop the transit potential of the Northern Sea Route. We are ready to create a joint working body for development of the Northern Sea Route," he said.