Gazprom shares rose by 0.63% on the morning of September 1 amid the signing of a memorandum on the construction of the Power of Siberia-2 gas pipeline and the Union East transit route through Mongolia, follows from trading data.

As of 8:10 Moscow time, the price of one common share of the company was 135.79 rubles. At one point, they rose to 136.41 rubles (an increase of 1.11%).

The signing of the document between Gazprom and the China National Petroleum Corporation (CNPC) was announced by Gazprom Management Committee Chairman Alexey Miller. According to him, the project envisages the transit of 50 billion cubic meters of gas per year from Russia to Mongolia. An agreement was also signed to increase supplies via the Power of Siberia gas pipeline from 38 to 44 billion cubic meters annually.

On August 29, it became known that Russian gas exports to China had grown by 28.3% since the beginning of the year. And on May 30, Miller reported that the first 100 billion cubic meters had already been delivered via the Power of Siberia. The contract is calculated until mid-2049.