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Gazprom Plans To Complete Pipeline To China in 2022

Source: Reuters 4/2/2015, Location: Asia

Russia's top natural gas producer Gazprom plans to complete construction of the Power of Siberia gas pipeline to China in 2022, the company said on Thursday, indicating a likely delay in the project.

Gazprom previously planned to start selling gas to China via the pipeline in 2019.

However, sources told Reuters last month the Power of Siberia may be put off until Moscow completes a separate, less ambitious project to send gas from existing fields to China through a pipeline thousands of kilometres further west.

In revealing details of its 840 billion rouble ($14.8 billion) investment plans for 2015, Gazprom said it aims to spend over 30 billion roubles on the Power of Siberia pipeline this year.

The largest portion of the 2015 spending plans is 278 billion roubles earmarked for expansion of a domestic gas pipeline network for the South Stream project, scrapped by Russia last year due to the European Union objections.

Moscow is now pushing ahead with an alternative project instead, an undersea pipeline to Turkey.

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