Gazprom plans to build a new gas pipeline in Eastern Siberia, Power of Siberia 2, with a capacity of 50 bcm/year. The new project would connect Russia to western China via Mongolia. The Russian state-owned company has carried out a preliminary feasibility study and has been authorised to start the pre-investment phase, including a feasibility study and the design-and-survey works.
In December 2019, Russia officially started to supply gas to China through the 3,000 km-long Power of Siberia gas pipeline project. As agreed in 2014, Russia will deliver 38 bcm/year of gas to China over a 30-year period using the Power of Siberia pipeline. Gazprom will deliver gas from the Chayandinskoye field in Yakutia (and from the Kovyktinskoye field located in the Irkutsk region as of early 2023) to Blagoveshchensk, at the Russian border with China, and to Changling in the Jilin province of China. In July 2019, China began to build a 1,110 km gas pipeline section to the project between Changling and Yongqing (in the Hebei province). The extension will be completed in October 2020.
In 2019, Gazprom produced 500 bcm of gas and exported 199 bcm (down from 202 bcm in 2018). The group plans to build 1,942 km of gas pipelines, to start 114 wells and 3 comprehensive gas treatment units with a capacity of 27.5 bcm/year, and to increase the amount of gas in underground gas storage (UGS) sites by 180 bcm. Gazprom plans to invest RUB 1,080bn (US$13.7bn) in 2020.