Gazprom Shanghai, Gazprom and the China National Petroleum Corporation made a contract worth $400 billion over thirty years. The contract was for Gazprom to deliver 38 billion cubic meters of natural gas per year to China beginning in 2018. In August 2014, construction began with pipes for the Power of Siberia pipeline delivered to Lensk, Yakutia. Russia will start supplying natural gas to China through the Power of Siberia pipeline on December 20, 2019 as part of the two countries' $400 billion energy pact. Beijing and Moscow are now negotiating over a second Far Eastern gas pipeline. In April 2001, Gazprom
Gazprom the world's reserves. In 2015, the reserves of crude oil were 1.355 billion tons and the reserves of gas condensate were 933.3 billion tons. 59.8 percent of Gazprom's natural gas reserves (Categories A+B+C1) were located in the Urals Federal District (decreasing), 20.5 percent in the Arctic shelf (increasing), and 8.3 percent in the Southern Federal District and North Caucasus Federal District. Gazprom has invested about 480 billion rubles ($20 billion) in new major projects in order to maintain supply. Nearly 37 percent of Gazprom's reserves are located in the Yamal Peninsula and in the Barents Sea. One of Gazprom's major