Gazprom may invest 120–140 bln rbl in Yakutia in 2017

MOSCOW, Oct 5 (PRIME) -- Russian gas giant Gazprom may invest 120–140 billion rubles in the development of the Chayanda field and in construction of the Sila Sibiri (Power of Siberia) natural gas pipeline in the republic of Yakutia in 2017, the republic’s head Yegor Borisov told reporters Wednesday.

“Speaking of Gazprom, we are only building plans today, we have not seen any work yet. They are working on development of infrastructure of the Chayanda field and launching construction of the pipeline. Investment will stand at about 120–140 billion rubles. We think that it is not much, but the thing here is that work has just been launched,” he said.

In June, Gazprom Deputy CEO Andrei Krugov said the company cut the estimate of investments into the Sila Sibiri’s construction in 2016 by 10% to 170–180 billion rubles, but the project’s total cost remained almost flat at about 800 billion rubles.

In 2014, Gazprom and China's CNPC signed a contract which envisages that gas supplies via the pipeline would begin in 2019. Gazprom plans to supply China with 38 billion cubic meters of gas per year over 30 years. The Russian part of the pipeline will stretch over 3,000 kilometers.

(62.4323 rubles – U.S. $1)

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