OREANDA-NEWS Gazprom is finalizing the details on the construction of the Soyuz Vostok gas pipeline project with its Chinese and Mongolian partners, Russian President Vladimir Putin said on Thursday at the Shanghai Cooperation Organization summit. He held talks there with Chinese leader Xi Jinping and Mongolian President Ukhnaagiin Khurelsukh.

According to the Russian president, Moscow is ready to develop cooperation with Beijing and Ulaanbaatar in the energy sector, which includes the possibility of increasing cross-border electricity supplies to the two countries.

“For this year, we predict 20% growth of energy transfers from Russia to your countries, dear friends, of up to 5.2 billion kilowatts,” Putin said.

Designed to carry natural gas to China via Mongolia, the Soyuz Vostok pipeline is part of the larger Power of Siberia 2 pipeline. It will be able to bring up to 50 billion cubic meters of gas to China annually, according to Gazprom.