PRESS RELEASE

Putin and Chinese Vice Premier Launch Construction of Russia-China Gas Pipeline

Sept. 1, 2014 (EIRNS)—In a ceremony outside the city of Yakutsk, Russia today, Russian President Putin and Chinese Vice Premier Zhang Gaoli launched the construction of the first part of Gazprom’s "Power of Siberia" pipeline, which will deliver 4 trillion cubic meters of gas to China over 30 years.

According to Russia Today, Putin said:

"The new gas branch will significantly strengthen the economic cooperation with countries in the Asia-Pacific region and above all our key partner China. The gas pipeline ‘Power of Siberia’ will increase energy security and ensure Russias ability to fulfill export obligations."

The 3,968 km pipeline linking gas fields in eastern Siberia to China will be the world’s largest fuel network. Starting in 2019, Power of Siberia will pump gas from Siberia to China’s populous Northeast region as well as to Russia’s Far East. The Chinese will start the construction of its part of the pipeline in the first half of 2015.

Earlier today, Putin told students at Northeastern Federal University:

"Once we create a gas pipeline network here in the Far East and Siberia, we will be able to connect European pipeline system to the East. And this, in terms of export opportunities and expanding Russia’s ‘gasification,’ is very beneficial depending on the situation in world markets, we can more effectively implement gas flows — either more to the West or to the East."