Moscow and Beijing agree to continue preparing Power of Baikal contract

Russia and China have agreed to continue preparing the contract for the "Power of Baikal" gas pipeline project, formerly known as "Power of Siberia‑2", Deputy Prime Minister Alexander Novak said during the Eastern Economic Forum.

"We discussed these issues within the framework of the existing intergovernmental commission. Now it is considered advisable to continue work on preparing the contract itself and so that our companies quickly reach specific agreements",

Novak said.

Earlier, Novak said the route and commercial terms were still under discussion. The project envisages supplying 50 billion cubic metres of gas annually to China via Mongolia.