Russia and China Sign "Power of Siberia 2" Gas Deal

The negotiations between Putin and Xi Jinping continued in a narrow format at the personal residence of the head of the PRC, "Zhongnanhai," the Kremlin reported. From the Russian side, Lavrov, Oreshkin, Ushakov, and Belousov participated in the event.

As a result of the negotiations, Russia and China signed a memorandum on the construction of the "Power of Siberia - 2" gas pipeline, announced the head of "Gazprom," Alexey Miller.

The agreement on "Power of Siberia - 2" was concluded for 30 years, and the price of supplies will be lower than for Europe.

"Gazprom" and the China National Petroleum Corporation have agreed to increase supplies via "Power of Siberia" from 38 billion cubic meters per year to 44 billion cubic meters.

"Gazprom" and the PRC also reached an agreement to increase gas supplies via the "Far Eastern Route" project from 10 billion cubic meters per year to 12 billion cubic meters.

Another signed memorandum concerns the construction of the "Soyuz Vostok" transit gas pipeline through Mongolia. This project will allow for the transit of 50 billion cubic meters of gas per year from Russia to Mongolia.