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Building new gas routes to China to attract up to $68 bln direct investment — Deputy PM

"The development of these projects will attract 4-5 trillion rubles in additional direct investment and 1.5-2 trillion rubles in related industries (metallurgy, cement industry, chemical industry, etc.)," Alexander Novak said

MOSCOW, February 13. /TASS/. The construction of new gas pipelines to China (Power of Siberia - 2 and the "Far Eastern route") will attract additional direct investments to the tune of 4-5 trillion rubles ($54.3-67.8 bln) and 1.5-2 trillion rubles ($20.2-27.1 bln) in related industries, Russian Deputy Prime Minister Alexander Novak said in an article for the Energy Policy magazine.

"We see the potential for growth in gas supplies to the Asia-Pacific Region. We have intensified efforts to further diversify export infrastructure. For this purpose, Gazprom, on behalf of the President of Russia, is working on accelerating the construction of the Far Eastern route, as well as the Power of Siberia-2 gas pipeline," he wrote.

"The development of these projects will attract 4-5 trillion rubles in additional direct investment and 1.5-2 trillion rubles in related industries (metallurgy, cement industry, chemical industry, etc.)," Novak added.

According to him, during 2022, Russia was actively building up gas supplies to China. The all-time record for daily transportation of Russian gas through the Power of Siberia gas pipeline was broken more than once. "As a result, gas supplies to China through the Power of Siberia increased by 48% and reached an all-time high of 15.4 billion cubic meters," he said.