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  • 2018-10-17 (xsd:date)
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  • he said.The 2,150 kilometer-long Power of Siberia pipeline is expected to be ready by the end of 2019 and, according to experts from Sberbank, Russia’s largest state bank, the cost of building it can be recouped only if the price for oil is stabilized at $110 per barrel.We haven’t seen such high oil prices since 2014. Furthermore (en)
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  • Speaking to reporters in St. Petersburg in early October, Gazprom CEO Alexei Miller announced an effort to sell additional natural gas to China. He was referring to a $400 billion deal Russia and China signed in 2014, under which Russia promised to supply China with 38 billion cubic meters of gas annually within 30 years beginning 2019. The contract between Gazprom and China National Petroleum Corporation was signed in the presence of the two country’s leaders, Xi Jinping and Vladimir Putin, during the Russian president’s trip to Beijing.Speaking at the Russian energy summit in St. Petersburg, October 4, 2018 Alexei Miller assured the public that the company could fulfill its contract and deliver the promised gas supply to China.Russia -- Gazprom head Aleksei Miller attends the Petersburg International Gas Forum in St. Petersburg, October 6, 2015Miller said that on the top of supplying China with 38 billion cubic meters of natural gas a year, Gazprom could deliver an additional supply of up to 10 billion cubic meters to China’s distribution network during peak season in the wintertime.Despite Miller’s promises, Gazprom will not be able to start delivering the full volume by the contract deadline, industry insiders told Polygraph.info.The deliveries promised in the deal depend on supplies from two natural gas deposits located in Siberia – the Chayanda oil and gas condensate field in Yakutia and the Kovykta gas condensate field in the Irkutsk Region. The two together have natural gas reserves of 4.1 trillion cubic meters, but neither has yet been developed. Meanwhile, according to Gazprom, the Power of Siberia pipeline is in its last phase of construction, with over 91 percent of the work done.Pavel Kartashov, a Moscow-based expert in the Russian energy industry, told Polygraph.info that Miller’s statement can be viewed as a propaganda spin to justify the $70 billion price tag the state has splurged on" for construction of a pipeline to China. "Usually (en)
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