Wednesday, May 21, 2014

Gazprom to receive $25 billion prepayment for gas supplies to China

Russian gas monopoly Gazprom will get $25 billion in prepayment from the Chinese National Petroleum Corporation (CNPC) to be allocated for the Sila Sibiri (Power of Siberia) pipeline under the gas supply deal, a source close to Gazprom told ITAR-TASS.

The amount is similar to the earlier announced cost of the pipeline with an annual capacity of up to 38 billion cubic metres.

Construction would start as soon as the contract is signed, said Gazprom’s CEO Aleksey Miller. Gas should first be sold - this is the formula Gazprom had always stuck to, he said........[]


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