Contract on gas pipe construction in west China could be signed soon - Sergei Ivanov

The head of the Russian presidential administration Sergei Ivanov has not ruled out that a contract to build a gas pipeline to western China across the Altai region could be signed in the very near future.

The head of the Russian presidential administration Sergei Ivanov has not ruled out that a contract to build a gas pipeline to western China across the Altai region could be signed in the very near future.

"Given the pace of Chinese economic growth, and like the president already said, with an agreement upon the compromise (gas) price formulas having been achieved, it is very likely that a contract could also be signed in the very near future for the construction of a western route (gas pipeline) that will fully cross the Siberian Federal District," Ivanov told journalists in Novosibirsk on Wednesday.

He also said that exploration of a deposit and construction of a gas pipeline on the eastern route, which is estimated at $55 billion, has a great cumulative effect for the Russian economy, he said.

"The synergy here is very great," he said.

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