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Russia may attract foreigners to build a gas pipeline to China

The Energy Ministries of Russia and China have agreed to speed up the process of negotiating a contract for the construction of a gas pipeline in China along the so-called "western corridor" across the state border on the territory of the Altai Republic.

The project is already being worked out by Gazprom and the Chinese CNPC. The head of the RF Ministry of Energy Alexander Novak told reporters yesterday at the St. Petersburg International Economic Forum.

Commenting on the deal concluded on May 21 between Gazprom and CNPS, he did not rule out that foreign companies, including Chinese ones, would be involved in the implementation of this contract. The received investments will be directed to the development of the Russian industry in Eastern Siberia and the Far East, which will provide additional opportunities for new tax payments and economic development.

As a reminder, on May 21, 2014, Gazprom and CNPC signed a contract for the supply of Russian pipeline gas to China via the eastern route. The contract for a period of 30 years provides for the export to China of 38 billion cubic meters of Russian gas per year. The document includes such basic parameters as a price formula pegged to the oil basket and a take-or-pay clause. The total contract price is $ 400 billion.

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