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Russia: Putin and Chinese Vice Premier launch $400 billion gas pipeline01:46

Russia: Putin and Chinese Vice Premier launch $400 billion gas pipeline

Russian Federation, Yakutsk
September 1, 2014 at 06:33 GMT +00:00 · Published

:

Russian President Vladimir Putin and Chinese Vice Premier Zhang Gaoli attended the launch ceremony of the first section of the Power of Siberia gas pipeline in Yakutsk on Monday.

Workers could be seen making small adjustments to the pipeline as Putin, Zhang Gaoli, and Alexei Miller, Gazprom Deputy Chairman, signed the structure. Putin later gave a speech to press, pipeline workers, and officials, stating that the Power of Siberia gas pipeline would be the largest construction structure of its kind in the near future. After the launch ceremony, attendees were treated to displays of traditional song and dance from the region.

This pipeline will connect the northeast of China with Russia's Gazprom line in the Pacific coast city of Vladivostok. The 3.968 kilometres (2,485 mile) long pipeline will be common for Yakutsk and Irkutsk gas production centre. The pipeline will deliver 4 trillion cubic meters of gas to China over 30 years.

In May, Gazprom and China's CNPC signed a 30-year agreement on the annual export of around 38 billion cubic meters of Russian gas to China. The project is valued at $400 billion (304.51 billion Euros). The expected cost of the pipeline construction is 770 billion rubles (15.74 billion Euros).

The Power of Siberia gas pipeline's first stage is expected to be commissioned in winter 2017. The pipeline will be able to contain 61 billion cubic meters of natural gas a year.

Russia: Putin and Chinese Vice Premier launch $400 billion gas pipeline01:46
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Description

:

Russian President Vladimir Putin and Chinese Vice Premier Zhang Gaoli attended the launch ceremony of the first section of the Power of Siberia gas pipeline in Yakutsk on Monday.

Workers could be seen making small adjustments to the pipeline as Putin, Zhang Gaoli, and Alexei Miller, Gazprom Deputy Chairman, signed the structure. Putin later gave a speech to press, pipeline workers, and officials, stating that the Power of Siberia gas pipeline would be the largest construction structure of its kind in the near future. After the launch ceremony, attendees were treated to displays of traditional song and dance from the region.

This pipeline will connect the northeast of China with Russia's Gazprom line in the Pacific coast city of Vladivostok. The 3.968 kilometres (2,485 mile) long pipeline will be common for Yakutsk and Irkutsk gas production centre. The pipeline will deliver 4 trillion cubic meters of gas to China over 30 years.

In May, Gazprom and China's CNPC signed a 30-year agreement on the annual export of around 38 billion cubic meters of Russian gas to China. The project is valued at $400 billion (304.51 billion Euros). The expected cost of the pipeline construction is 770 billion rubles (15.74 billion Euros).

The Power of Siberia gas pipeline's first stage is expected to be commissioned in winter 2017. The pipeline will be able to contain 61 billion cubic meters of natural gas a year.

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