Russia’s Gazprom and the China National Petroleum Corporation (CNPC) signed a second long-term contract on Friday for the supply of 10 billion cubic meters (bcm) of natural gas from the Russian Far East. The agreement comes as Russian President Vladimir Putin is in China on an official visit.
According to Gazprom, the agreement is “an important step in further strengthening mutually beneficial cooperation between Russia and China in the gas sector.” After the project reaches its full capacity, the volume of Russian pipeline gas supplies to China via the Far East route will reach 48 billion cubic meters per year (including deliveries via the Power of Siberia gas pipeline).
Gazprom’s largest natural gas deposit in the Far East is the Yuzhno-Kirinskoye field, where production is due to begin in 2023.
“The signing of the second contract for the supply of Russian gas to China testifies to the highest level of mutual trust and partnership between our countries and companies. Our Chinese partners from CNPC confirm that Gazprom is a reliable gas supplier,” the head of Gazprom, Alexey Miller, said.
Russian energy supplies to China have reached record highs, according to Kremlin aide Yury Ushakov.
Gazprom and the CNPC signed their first 30-year contract on gas supplies via the Power of Siberia pipeline in 2014. The 3,000km (1,864 mile) cross-border pipeline, the first natural gas pipeline between Russia and China, started deliveries three years ago.
In 2015, the sides agreed on gas supplies via the western route, or the Power of Siberia 2, which will deliver gas from Siberia’s Yamal Peninsula, where Russia’s biggest gas reserves are. The new pipeline will be able to transfer up to 50 bcm more gas through Mongolia to China annually.
In January, Gazprom completed an analysis of the project to build the Soyuz Vostok gas pipeline through Mongolia to China, which will make it possible to supply up to 50 billion cubic meters of gas per year to China.
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