China and Russia are set to begin construction of a joint natural gas pipeline in eastern Siberia. According to a contract signed under the witness of Chinese President Xi Jinping and Russian President Vladimir Putin during a meeting in May 2014, the Yakutia–Khabarovsk–Vladivostok, or Power of Siberia, pipeline will transmit 38 billion m3 of natural gas every year from Yakutia to Primorsky Krai and Far East countries over a period of 30 years (starting from 2018).
On 31 August, China’s Vice Premier Zhang Gaoli flew to Yakutsk to attend the start-of-construction ceremony for the Russian section of the East Route of the new pipeline, highlighting the importance of China’s strategic energy partnership with Russia. According to reports, pipe welding for the Russian leg will begin on Monday.
Edited from various sources by Rosalie Starling
Sources: CRI English, Live Trading News