Gazprom will increase annual gas supplies to China

Russia's Gazprom and China National Petroleum Corporation (CNPC) have signed an agreement to increase annual gas supplies to China via the Power of Siberia pipeline and the Far East route, Russian news agency RIA reported on Tuesday.

Gazprom CEO Alexei Miller said that the volume of supplies via existing pipelines is to increase from 38 to 44 billion cubic meters per year. An increase from 10 to 12 billion cubic meters is planned via the Far East route.

The agreement was signed during President Vladimir Putin's visit to China, where he will attend a military parade on Wednesday marking the end of World War II.

Miller also announced that a legally binding memorandum had been signed on the construction of the Power of Siberia 2 pipeline and the Soyuz Vostok transit gas pipeline through Mongolia.

In addition, a new strategic cooperation memorandum was signed between Gazprom and CNPC, which is intended to deepen cooperation on future projects.

(reuters, est)