MOSCOW, February 28. /TASS/. /TASS/. Russia's gas company Gazprom is in talks with China on the possible increase in gas deliveries through the Power of Siberia pipeline, Director General of Gazprom Export Elena Burmostrova said on Thursday at the Day of Company's Investor in Singapore.

"We are discussing with CNPC the possibility of increasing deliveries via the existing route, as well as additional deliveries via other routes, such as in the Far East and Altai. This is the Power of Siberia 2 project. It usually takes a while, more than 6 months and more than a year, to reach an agreement with China, but I want to say that talks are intensive," Burmistrova said.

Gazprom's Deputy Chairman of the Management Committee Andrey Kruglov said earlier that less investments will be required into the Power of Siberia 2 gas pipeline than into the first project.

"Investments into this project will be considerably smaller compared to investments into the Power of Siberia gas pipeline because of the existing resource base and pipeline infrastructure, as well as because of the lack of need to build a gas processing plant to ensure deliveries," Kruglov said.

Earlier reports said that Gazprom plans to invest 147.53 billion rubles into the Power SIberia gas pipeline. In 2018 the company invested 219 billion rubles into the project. In 2011 the whole project was estimated to cost around 800 billion rubles.