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The US sanctions won’t harm Gazprom. The company continues to build the eastern route

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The US sanctions won’t harm Gazprom. The company continues to build the eastern route

The US sanctions won’t harm Gazprom. The company continues to build the eastern route
September 02
10:30 2016

Answering the questions of journalists behind the scenes of the World Economic Forum 2016, the head of Gazprom  Alexei Miller said that the increased number of sanctions taken by the United States would not affect the company’s activity.

OFAC (Office of Foreign Assets Control) is an organization of the US Department of the Treasury, which is responsible for the enforcement in the area of sanctions.  Yesterday it gave the information that certain individuals and entities had been included in so-called “Ukrainian” sanctions lists. This refers to the sectoral sanctions and the “black list” (SDN List). The first ones block only the long-term financing. For those companies and individuals who are in the “black list” the situation can become more sorrowful.

Meanwhile, Gazprom continues to build the eastern route. Today more than 200 kilometers of the Power of Siberia pipeline in China have been already built. This was told in an interview to “Interfax” by Anatoly Titov, General Director at LLC “Gazprom Transgaz Tomsk”.

“We have cleared more than 1100 km and have done welding works on the territory of 300 km. The whole complex of works have been performed on the territory of more than 200 km,” – said Mr. Titov.

The first phase of the Power of Siberia pipeline is equal to 2.2 thousand kilometers. This is a distance from the oil and gas field in Chayandinsk to the border with China near Blagoveshchensk.

Accordingly, about 9% of the pipeline has been ready.

According to the contract of Gazprom and CNPC regarding the Power of Siberia, 38 billion cubic meters will be delivered for the period of 30 years. The start of the deliveries is scheduled for May 2019.

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