Russia to Invest $60-70 Bln in Gas Pipeline to China - Kremlin

So now Russia invests $70 Billion into a Gas pipeline to China. That will create vast exports, huge capital values, and none in dollars.

The new Silk Road widens adding stimulus by facilitating trade, while the west fiddles away opportunities.

Russia to Invest $60-70 Bln in Gas Pipeline to China - Kremlin © RIA Novosti. Igor Zarembo
RIA Novosti
9 July 2014

BEIJING - The construction of Power of Siberia gas pipeline to supply Russian gas to China is expected to begin shortly, at a cost to Russia of $60-70 billion, Kremlin Chief of Staff Sergei Ivanov said Wednesday during his visit to China.

"The Power of Siberia gas pipeline construction will start soon, the estimated cost of this whole project is $60-70 billion," Ivanov said, addressing Russian-speaking students in Beijing.

The new pipeline is to supply China with Russian gas under a 30-year contract Gazprom and China National Petroleum Corporation (CNPC) signed in late May. Under the contract, Russian is to provide China with 38 billion cubic meters of gas per year. The value of the deal is estimated at $400 billion. Russia plans to invest $55 billion in the deal, and China around $22 billion.

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