Power of Siberia to give an impetus to the development of the Far East

The economy of Far Eastern regions will grow because of the investment projects (the Eastern Gas Program), which have begun to be implemented by Gazprom. The main one of them is the large-scale long-term supply of natural gas to China through the gas transportation system of the Power of Siberia pipeline.The costs for the system's construction (the former name is Yakutia - Khabarovsk - Vladivostok), whose length will be about 4 thousand kilometers, will make up $55 billion.

As the chairman of the Gazprom’s Board of Directors, Viktor Zubkov noted at the press conference, the practical implementation of the mega-project on gas transportation to China has started. Let’s recall that the cooperation between the two countries intensified after the visit of the Russian President, Vladimir Putin to China, which took place in late May of 2014. Its main result was the signing of the biggest gas contract in the relations between the two countries - Gazprom reached an agreement for the supply of 38 billion cubic meters of gas per year for 30 years, which will be over 1 trillion cubic meters of gas. The total amount of the contract is about $400 billion.