China and Russia sign agreement to launch Power of Siberia 2 project

This week in Beijing, China and Russia signed an agreement to launch the Power of Siberia 2 gas pipeline project. The pipeline will bring 60 billion cubic metres of natural gas a year from the Yamal gas fields in western Siberia to China. The pipeline will have a total length of 7,000 kilometres. Gazprom has also announced an increase in the capacity of Power of Siberia 1, from 38 to 44 billion cubic metres of gas. Eventually, Russia's gas exports to China will increase from the current 38 billion cubic metres to 104 billion cubic metres.