Russia and China signed a “legally binding” memorandum on Tuesday (2) to advance the construction of pipeline Power of Siberia 2a project that should consolidate the role of Beijing as the most important energy client in Moscow – who seeks to replace lost European markets.
In the presence of Russian President Vladimir Putin and China President Xi Jinping, there was a document exchange ceremony between the Russian company Gazprom and CNPC (China National Petroleum Corporation)and four documents were signed, including a strategic cooperation agreement designed to expand interaction areas between companies.
“This will now be the largest, largest and most intensive capital project in the gas industry in the world,” said Gazprom CEO Alexey Miller,
The delegations of both countries also signed 22 cooperation documents as part of Putin’s official visit to Beijing, according to the agency Tass.
