Russia`s energy giant Gazprom has cut investment in the construction of the Power of Siberia pipeline in 2016 by nearly 10% from $2.8 billion to $2.6 billion, RIA Novosti reported citing Gazprom Deputy Chairman of the Management Committee Andrey Kruglov.
”As for the Power of Siberia last year I said that the financing would stand at around RUB 200 bln ($3.1 bln) in 2016 and RUB 250 bln ($3.8 bln) in 2017. Now we see that in 2016 financing of the Power of Siberia [pipeline] will be around 10% lower than the planned volumes, at around RUB 170-180 billion,” he said.
Gazprom has been building the Power of Siberia gas pipeline, which will pump natural gas from the giant Chayanda oil and gas condensate deposit in Yakutia and the Kovykta gas condensate field in the Irkutsk Region in Eastern Siberia to deliver gas to the domestic market and further on for exports to China.
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