Gazprom considers that the beginning of extraction of gas hydrates in China will not affect gas supplies through the pipeline of the Power of Siberia project, Deputy Chairman of the company’s Board, Vitaly Markelov, said at a press conference.
“The project is being implemented in accordance with the contract. The Chinese party will take gas from the Power of Siberia in accordance with the contract. Whatever happens in the South China Sea, the contract is signed and the Chinese party is obliged to take gas from the Power of Siberia, he said.
Vitaly Markelov added that it was premature to talk about the effects of gas hydrates extraction on the market, because, in particular, the cost of production is not clear yet.
As a reference, on the 18th of May, Nikkei newspaper reported that China had successfully extracted samples of gas hydrates in north of the South China Sea.