Zakharova: no cyberattack on Russian foreign ministry’s websiteRussian Politics & Diplomacy October 23, 18:29
Russia not ready to say whether it will cut oil production or freeze itBusiness & Economy October 23, 17:29
Experts probing into situation around cyberattack on Russian foreign ministry’s websiteRussian Politics & Diplomacy October 23, 17:05
Two bandits killed in special operation in Nizhny Novgorod - sourceWorld October 23, 15:15
S Arabian minister invites Russian counterpart to GCC oil ministers meetingBusiness & Economy October 23, 13:42
A family of eight killed in airstrike near Mosul - TVWorld October 23, 13:08
Kiev military launch more than 200 shells, destroy house in DonbassWorld October 23, 11:10
Rescuers evacuate 15 people from house hit by gas explosionSociety & Culture October 23, 11:07
Russian health minister says producing vaccines in Nicaragua is "very profitable"Society & Culture October 23, 7:36
“Gazprom has entered this market quite recently by signing a very advantageous contract, which will yield $400 billion for us during 30 years,” Miller said at the St. Petersburg international gas forum.
“In fact, this is only the beginning. The prospects of supplies to the Chinese market, if we comment on them, are simply huge. We say that the volumes of our deliveries may shortly rise to 60 and even to 100 billion cubic meters a year,” the Gazprom CEO said.While the Asia-Pacific region is a market based on liquefied natural gas and the LNG share dominates the local gas balance structure, it is possible to forecast that “the proportion of pipeline gas on the Asia-Pacific and Chinese markets will be rising ever more considerably,” Miller said.
The Gazprom chief said that “intra-regional competition for resources will presumably intensify” in the Asia-Pacific region.
The $400 billion contract signed between Gazprom and China’s CNPC in May 2014 envisages the delivery of 38 billion cubic meters of natural gas to China annually for a period of 30 years.
Natural gas will be supplied to China via the Power of Siberia gas pipeline, the construction of which was launched by President Vladimir Putin on September 1.
The Power of Siberia gas pipeline estimated at $21.3 billion is intended to pump 61 billion cubic meters of natural gas annually and will stretch over a distance of 3,968 km (2,465 miles).
The pipeline is designed to pump natural gas from the giant Chayanda oil and gas condensate deposit in Yakutia in northeast Russia and the Kovykta gas condensate field in the Irkutsk Region in Eastern Siberia. The Power of Siberia will run along the operational East Siberia - Pacific oil pipeline, crossing marshlands, mountainous and seismically active areas.
The first stage envisages the construction of the Yakutia-Khabarovsk-Vladivostok trunk gas pipeline. During the second stage, the Irkutsk gas production center based on the Kovykta deposit will be connected with the Yakutia center based on the Chayanda field.
The gas pipeline’s first stage is scheduled to be commissioned in 2017.
The Chayanda oil and gas condensate field in the Lensky district of Yakutia was discovered in 1989. The field, one of Russia’s largest undeveloped deposits, holds about 1.45 trillion cubic meters of natural gas and 93 million tons of liquid hydrocarbons. The field is expected to produce up to 25 billion cubic meters of natural gas and at least 1.5 million tons of oil annually.
The Kovykta gas condensate deposit discovered in 1987 is located in the north of the Irkutsk Region. The deposit’s reserves are estimated at 1.9 trillion cubic meters of natural gas, 2.3 billion cubic meters of helium and 115 million tons of liquid gas condensate.