"Russia and China have agreed to move forward with a new gas pipeline during Russian President Vladimir Putin's trip to China, Gazprom said, highlighting the growing economic and energy ties between the two nations. Alexei Miller, CEO of Gazprom, the largest energy firm in Russia, confirmed on Tuesday that a legally binding memorandum had been signed to develop the pipeline."
"The long-planned Power of Siberia 2 could carry an additional 50 billion cubic metres (bcm) of gas annually from Russia's Arctic Yamal fields to China via Mongolia. Miller added that deliveries through the existing Power of Siberia pipeline from eastern Siberia to China would increase to 44 bcm a year, up from 38 bcm. The deal would deepen Beijing's energy options while reducing dependence on liquefied natural gas (LNG) imports from the United States."
A legally binding memorandum has been signed to develop the Power of Siberia 2 pipeline to deliver gas from Russia to China via Mongolia. The pipeline could carry an additional 50 billion cubic metres annually from Russia's Arctic Yamal fields. Deliveries through the existing Power of Siberia pipeline from eastern Siberia to China will increase to 44 bcm a year, up from 38 bcm. The pipeline deal expands Beijing's energy options and reduces reliance on liquefied natural gas imports from the United States. The agreement follows meetings between the two presidents and coincides with the Shanghai Cooperation Organisation summit in Tianjin.
Read at www.aljazeera.com
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