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Russia's Sogaz Insurance Group said that it has signed the first insurance contract to cover risks in the construction of Power of Siberia pipeline, reports Banki.ru.
The sum insured is nearly 50 billion Russian rubles ($753.5 million).
The contract has been signed with Russia-based Gazprom Transgaz Tomsk and is valid till the end of 2018.
Sogaz will provide insurance protection for the construction of a 208-kilometer section of the main gas pipeline between Russia's Chayandinskoye field and Lena region.