Putin ratified the agreement on gas supplies to China on the "Power of Siberia"

Russian President Vladimir Putin signed the law on ratification of the agreement with China on gas supplies on the "eastern" route. The text of the law is posted on the portal of legal information on Saturday, May 2.

The agreement between Russia and China was signed in 2014. The contract amount calculated for 30 years and provides for the supply of 38 billion cubic meters of gas per year is $ 400 billion. In March this year, an agreement on gas supplies by pipeline "Power of Siberia" was approved by the Russian government.

The agreement provides that the parties shall encourage the use of national currencies in the calculations of Russia and China. They also pledged to create their authorized organizations necessary tax conditions and assist in the expansion of cooperation between "Gazprom" and the Chinese National Petroleum Corporation (CNPC).

Construction of gas pipeline "Power of Siberia" was launched in September of last year (in April 2015 the head of "Gazprom" Alexei Miller promised that the construction will take more than six years).

The project is designed to transport fuel from the Yakutia and the Irkutsk gas production centers in China and the Far East of Russia. The base for the creation of the Yakut center is Chayandinskoye oil and gas field with reserves of about 1.45 trillion cubic meters of gas and about 93 million of liquid hydrocarbons.

18:24, 2 May 2015