Russia plans to significantly ramp up its gas export to China by year-end, Deputy Prime Minister Alexander Novak announced on the Rossiya-1 television channels, Opera News reported on Monday, citing Russian news agency TASS.

According to a report published on Opera News, Russia will increase pipeline gas shipments to China by 50% this year, totaling 22 billion cubic meters.

Novak stated that the previous figures show that by the end of 2022, oil, gas, and coal supplies will have increased.

"We delivered 15 billion cubic meters of natural gas last year and expect this figure to reach 22 billion cubic meters in 2023, which is nearly a 50% increase," Novak added.

In March, Russian and Chinese leaders Vladimir Putin and Xi Jinping directed their government delegations to finalize preparations for the Power of Siberia-2 gas pipeline papers so that they may be signed as soon as feasible.