Miller confident Gazprom will build Power of Siberia 2 ahead of schedule

The new gas pipeline from Russia to China, Power of Siberia 2, will be built ahead of schedule, Gazprom Management Board Chairman Alexei Miller said during a pre-new year conference call according to Interfax.

He recalled that during President Vladimir Putin's visit to China in 2025 "very important agreements were reached on increasing gas supply levels via the Power of Siberia and on increasing supply levels via the Far Eastern route."

"But the most important thing is that agreements were reached with our Chinese comrades on constructing the Power of Siberia 2 gas pipeline. These are legally binding agreements. And of course, we have taken a very serious, big step towards the start of implementing a gas project that will again be the largest gas investment project in the world," he said.

"Essentially, [it is] a project on Gazprom's scale, a global one. We know how to build such projects and love to build them. I am confident that, like the Power of Siberia, we will build the Power of Siberia 2 gas pipeline not only on time and at a high [level of] quality, but also ahead of schedule," Miller said.

On September 2, a legally binding memorandum on constructing the Power of Siberia 2 gas pipeline and the transit gas pipeline through Mongolia, Soyuz-Vostok, was signed in Beijing. The route will allow for the supply of 50 billion cubic meters of gas per year from Russia via transit through Mongolia.

The Power of Siberia 2 is part of the large-scale Eastern Gas Supply System (EGSS) project, which will integrate the existing Unified Gas Supply System with gas production centers in the east of the country and ensure the supply of pipeline gas to regions that previously did not have access to it. The EGSS originates from the giant Tambei field in the north of the Yamal Peninsula, passes through Bovanenkovo, Novy Urengoi, the Khanty-Mansi Autonomous District, the Tomsk and Kemerovo regions and Krasnoyarsk Territory and reaches the border with Mongolia in the Irkutsk region.