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Gazprom plans to boost production by 7.4% in 2017

Gazprom will sign documents on the exact schedule of gas deliveries via the Power of Siberia pipeline to China in nearest days

MOSCOW, June 30. /TASS/. Russia’s top gas producer Gazprom may boost gas production by 7.4% this year compared with 2016 to over 450 bln cubic meters, Chief Executive Officer Aleksei Miller said at the annual shareholder meeting on Friday.

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Russian Gazprom, Chinese CNPC start talks on gas deliveries timeframe

"We expect production below 450 bln cubic meters," he said, adding that the company produced 232.7 bln cubic meters of gas in six months of this year.

Gazprom will sign documents on the exact schedule of gas deliveries via the Power of Siberia pipeline to China in nearest days, he went on.

"Today we’re finalizing the discussion of the exact schedule for the launch of supplies via the ‘eastern route’ (of the Power of Siberia pipeline - TASS) in compliance with the contract. The plan is to sign the relevant document in nearest days," he said.

Miller also said that the company plans to start the agreement of terms for gas to be supplied to China via one more route - from Russia’s Far East - by the end of 2017.

Earlier CEO said that the contract on Russian gas deliveries to China via the Power of Siberia came into force in May 2015, gas supplies are scheduled to start in four - six years after the contract becomes legally effective. Accordingly, gas supplies to China may be launched in the period between May 2019 and May 2021.

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