Gazprom ordered to secure contract for Power of Siberia 2 pipeline ASAP - Novak

MOSCOW. March 22 (Interfax) - Gazprom has been instructed to work through the draft agreement for the construction of the Power of Siberia 2 gas pipeline in detail and to get it signed, Deputy Prime Minister Alexander Novak told reporters following Russian-Chinese negotiations in the Kremlin on Tuesday.

"Instructions have been issued to ensure agreement [of the contract for Power of Siberia 2]. If something happens this year, we'll see when the company carries this out, but the faster the better and more effective," Novak said.

Power of Siberia 2 will make it possible to accelerate the redirection of Russian pipeline gas exports to the rapidly growing Chinese market, he said.

The pipeline will have capacity to carry 50 billion cubic meters, which is "a fairly large amount," he said. "Nord Stream is 55 bcm, meaning one such pipeline will completely replace Nord Stream," Novak said.