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Gazprom Is Negotiating With China To Increase The Supply Of Power Of Siberia

Gazprom Is Negotiating With China To Increase The Supply Of Power Of Siberia

Gazprom is negotiating with its Chinese partners to increase gas supplies by 6 billion cubic meters to 44 billion cubic meters per year, Alexey Miller, Chairman of the Board of monopoly, said in an interview with a corporate magazine.

"On the table with Chinese partners is an increase in gas supplies through the Power of Siberia pipeline by 6 billion cubic meters to 44 billion cubic meters of gas per year, the organization of gas supplies from the Far East, the construction of the Power of Siberia-2 and the Western route," he said. Miller noted that in the foreseeable future, gas exports to China would exceed 130 billion cubic meters of gas per year.

"The growth of supplies for the Power of Siberia will outpace the dynamics of both liquefied natural gas imports and Central Asian gas supplies to China," he concluded. He also noted that Gazprom notes the continued growth of gas demand and imports in China.

Reserves growth

The main increase in Gazprom's gas reserves at the end of the year is expected in Yamal. The growth rate will again exceed one, Miller said. "Gazprom has a clear goal-setting system. This is, for example, an annual replenishment of the resource base. The rate of increase in reserves due to exploration consistently exceeds one, as it has been for the past 15 years and will be by the end of 2020. Yamal will provide the main growth. this year we have already opened another large field here, which we called "75 years of Victory," said the head of Gazprom.

The situation in European markets

The European gas market is going through a difficult period, but Gazprom has a large margin of safety, the head of the company said. "If we talk about the financial situation, Gazprom remains highly stable and reliable. By the beginning of this year, we came up with a serious reserve of liquidity-more than $22 billion for the group," Miller said.

"Investors have great confidence in us: since the beginning of the year, we have placed two bond issues in dollars and euros and two ruble loans on very favorable terms. On Monday, June 29, another deal in dollars will be closed," the head of Gazprom added.

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