‘Power of Siberia’ gas pipelineRussia and China have once again demonstrated close cooperation by signing a large energy contract in time for Russian President Vladimir Putin’s visit to China and a summit meeting with Chinese President Xi Jinping.
According to a press release on the 4th (local time), Russian state-owned gas company ‘Gazprom’ signed a long-term contract with China Petroleum and Natural Gas Corporation (CNPC) to supply 10 billion cubic meters of Russian natural gas per year to China through a gas pipeline in the Far East. said to have been signed.
“The signing of this contract is an important step in strengthening mutually beneficial cooperation in the gas field between China and Russia,” Gazprom said.
“The signing of the second contract for the Russian gas supply to China proves the high level of mutual trust and partnership between the two countries and their companies,” said Alexei Miller Gazprom, president of the company.
Gazprom and CNPC signed a large-scale contract in 2014 to supply 38 billion cubic meters of Russian natural gas per year to China for 30 years.
This contract was also called the ‘contract of the century’ with a huge down payment of 400 billion dollars (475.2 trillion won).
After signing the contract, Russia began supplying gas to China in December 2019 by building a “power of Siberian” gas pipeline with a length of more than 2,000 km from the “Chayanda Gas Field” in Siberia to China.
Following the gas supply contract through Siberia’s power gas pipeline (38 billion ㎥ per year), a contract to supply natural gas produced in Sakhalin, etc. to China using a gas pipeline in the Far East (10 billion ㎥ per year) was signed. Exports to China have increased to 48 billion cubic meters per year.
In addition, Gazprom and CNPC are also promoting the ‘Power of Siberia-2’ gas pipeline project to supply Russian natural gas produced in the western Siberian gas field to western China or to eastern China via Mongolia.
Meanwhile, Russian state-run oil company Rosnefty announced on the same day that it had signed an agreement with CNPC to supply 100 million tons of crude oil to China through Kazakhstan in Central Asia over 10 years.
The crude oil will be processed into petrochemical products at factories in northwestern China.
Rosneft has exported a total of 442 million tons of crude oil to China since 2005.
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