Updated 4:43 p.m. Moscow Time
MOSCOW, October 10 (RIA Novosti) – The Russian government said Friday it had approved an agreement with Beijing to deliver gas to China via Russia's eastern route (Power of Siberia pipeline).
"The agreement is a condition of entry into force of the purchase and sale contract of natural gas via the "eastern route," the note to the government's statement said.
The draft agreement also envisages that the sides will encourage energy payments in national currencies.
In May, Russia’s energy giant Gazprom signed a $400-billion contract with CNPC (China National Petroleum Corporation) to export 38 billion cubic meters of Russian gas to China annually for a 30-year period.
The construction of the 3,000-kilometer (1,860-mile) Power of Siberia pipeline, which will be used for the deliveries of Russian gas to China, was launched in Yakutia on September 1. Deliveries are scheduled to start in 2018.
According to Russian President Vladimir Putin, the new gas pipeline will significantly strengthen Russia’s economic cooperation with the governments of the Asia-Pacific region.
