Russia, China Advance Plans for Key Gas Pipeline
(MENAFN) Russian Leader Vladimir Putin and Chinese Leader Xi Jinping have agreed to accelerate progress on the Power of Siberia 2 gas pipeline initiative, according to Deputy Premier Aleksandr Novak.
This development comes after top-level discussions held in Moscow during Xi’s official visit to commemorate Victory Day on May 9, marking 80 years since the Soviet Union's triumph over Nazi Germany.
The ambitious infrastructure project is designed to transport as much as 50 billion cubic meters of natural gas each year from northern Russia to China, passing through Mongolian territory.
Although some headway has been made, the project has faced postponements largely due to ongoing negotiations over pricing strategies and route planning.
“There were discussions, it is indeed an important project. A certain amount of work has already been done, including the feasibility study… The leaders gave instructions to expedite the process,” Novak stated.
Novak, a former Russian energy minister, emphasized that the groundwork is partially complete and both leaders have now directed their teams to hasten implementation.
Moscow views this venture as part of a broader strategy to broaden its energy export destinations, particularly in light of Western sanctions and diminishing demand from European markets.
For China, the pipeline represents a dependable source of energy to meet its growing consumption requirements.
At present, Russia supplies natural gas to China through the original Power of Siberia pipeline.
This is part of a USD400 billion deal signed in 2014 between Gazprom and China National Petroleum Corporation (CNPC).
Gas began flowing in 2019, and by December, the pipeline had reached full capacity, positioning Russia as China’s foremost natural gas provider.
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