VLADIVOSTOK, September 5. /TASS/. Russian gas prices for China are determined using the same formula that was applied for supplies to Europe, President Vladimir Putin said during the plenary session of the Eastern Economic Forum (EEF).

"This is a mutually beneficial project (Power of Siberia-2 - TASS). As for the pricing, it is, first, market-based, and second, calculated using practically the same formula as was used for supplies to Europe. The formula is the same," Putin said in response to a question. "But the components of this formula – the prices of various products that make up the gas price – simply differ across regions of the world. In Europe, the prices are one set, in Asia, they are another. But the formula for determining the price is the same. It is entirely market-based," he added.

The president emphasized that Power of Siberia-2 is one of the largest energy projects in the world. "These were lengthy negotiations. Whenever participants in economic activity communicate and try to find a solution, most of whom are in this room, you understand that it is not a simple process. Yet everyone strives to reach a result that benefits both parties. Such a result was achieved through years of joint work between Gazprom and its Chinese partners," Putin noted.

The 10th Eastern Economic Forum is taking place in Vladivostok from September 3 to 6 under the theme "The Far East: Cooperation for Peace and Prosperity." The business program will feature more than 100 thematic sessions divided into seven tracks. The forum is expected to bring together over 4,500 participants from more than 70 countries and territories. The Roscongress Foundation is the organizer of the EEF, with TASS as its general information partner.