Power of Siberia to cost over 1 trln roubles

​The construction of the Power of Siberia gas pipeline to China will amount to 799.9 bln roubles. As of Jan 1st 2011 its value was 770 bln roubles.

Rosstat informs that in 2011-2014 the inflation rate rose to 30.5%. Consequently the value of the construction of the gas pipeline rose by about 244 bln roubles. Thus the total value of Power of Siberia will rise to over 1 trln roubles. 1 km of pipe costs 246 mln roubles. The length of the pipeline is 3,247 km. This is just the length from the Chayanda deposit to Vladivostok, Gazprom says.

The price rise of the project might be connected not only with the inflation but with the devaluation of a rouble. CEO of “Gazprom transgas Tomsk”, A. Titov, says that Power of Siberia will be constructed out of the domestic equipment by 90-95%. Foreign currency reserves will be attracted by 5-10% (or 40-80 bln roubles). But as from 2011 a dollar rose in price by twice, it will be about 80-160 bln roubles.