Five and a half years after signing the sales and purchase contract, first gas from the Power of Siberia pipeline project has finally been delivered to the Chinese gas market. Russia's Gazprom and Chinese oil giant PetroChina signed a 30-year contract -- which at plateau calls for supply of 38 billion cubic meters (Bcm) annually -- in May 2014 and in a supplemental agreement subsequently to commence on 2 December 2019. Today's inauguration ceremony at Blagoveshchensk-Heihe at the Russia-China border marked the beginning of the era of Russian pipeline gas supply to China. Gazprom's strategic shift to Asia market ... (full story)