Construction of its gas pipeline from Russia to China is 99% finished, Russian energy giant Gazprom has announced. According to reports, the company is planning to start delivering gas to China via the Power of Siberia line as early as December 2019.
Gazprom’s Investor Day presentation in Singapore revealed that in 2019 the company is planning to invest about $2.24 billion into the project. The pipeline is set to deliver 38 billion cubic meters of Russian natural gas to China annually.
Gazprom and the China National Petroleum Corporation (CNPC) reached a 30-year agreement for gas supplies via the Power of Siberia gas pipeline in 2014. In September 2018, Gazprom reported that the Russian part of the pipeline, running from Yakutia gas production centers to China’s border, was almost complete. The construction of pipeline on Chinese territory is also almost completed.