Russia and China sign Power of Siberia-2 gas supply expansion deal

Russia’s Gazprom and China’s CNPC have today agreed to build the Power of Siberia-2 gas pipeline and Soyuz-Vostok pipelines via a legally binding ￰0￱ Miller, Gazprom CEO, revealed that the pipeline will transport natural gas from Russia’s Yamal fields to China via Mongolia for 30 years, with annual supplies projected to reach ￰1￱ countries have also agreed to expand gas exports via existing ￰2￱ Power of Siberia pipeline route will increase from 38 billion cubic meters (bcm) to 44 bcm per year, and the Far Eastern Route will increase its deliveries from 10 bcm to 12 bcm ￰3￱ a reduced transport path, the plan is expected to lower gas prices in China compared to European ￰4￱ set to benefit from relatively cheaper gas due to shortened pipeline route Alexei Miller, Gazprom CEO, noted that gas pricing for China will be reduced compared to the current rate delivered to ￰5￱ revealed that payments will be made in a 1:1 ratio in rubles to ￰6￱ means that for gas transactions under the Power of Siberia-2 pipeline agreement, the payment currency will be split equally between Russian rubles and Chinese ￰7￱ CEO described the project as the biggest and most capital-intensive in the ￰8￱ revealed that plans for constructing the Siberia-2 and Soyuz-Vostok pipelines had been in place for over a decade, even before the original Power of Siberia pipeline was started in ￰9￱ Chinese President, Xi Jinping, has recently been engaged in several talks with Vladimir ￰10￱ reported on Cryptopolitan, Xi Jinping’s visit to Russia in May improved their ties and presented a united front against ￰11￱ agreement follows trilateral talks between China, Moscow, and Mongolia discussing the pipeline ￰12￱ the visit, the two leaders signed over 20 deals across the energy and technology ￰13￱ insisted on building a global balance independent of U.

S. dominance, with Putin describing their relationship as equal and mutually ￰14￱ will also allow visa-free visits for Russian citizens for up to 30 days from September ￰15￱ previous rule only allowed limited access of up to 30 days for direct flights to Hainan ￰16￱ shifts focus to Asia as Europe diversifies its gas supply sources Russia began supplying gas via the Power of Siberia pipeline in 2019 through an agreement with ￰17￱ far, the contractual obligations have been exceeded since ￰18￱ reached its maximum in December 2024 by supplying 38 bcm via the ￰19￱ demand in China has also increased by 28% this year throughout the first eight ￰20￱ agreement follows Moscow’s increased energy deliveries in Asia as the country faces a European market shortage due to ￰21￱ to a report by GIS, Russian pipeline gas exports to Europe via Ukraine were stopped when Kyiv rejected the renewal of the Gazprom ￰22￱ markets have not been significantly impacted since they have already diversified their gas supply ￰23￱ to the report, the ￰24￱ the leading supplier of liquified natural gas to ￰25￱ and Qatar have also expanded their exports into Europe, which reduces dependence on Russian ￰26￱ is shifting toward Asia through China, but some analysts warn that the country risks having a weaker negotiating position due to reliance on a single ￰27￱ analysts have also concluded that Russia’s dominance in the global competition and energy market is likely ￰28￱ implemented, the agreement with China means that Russia’s east-bound exports will exceed 100bcm yearly, making Moscow the biggest gas supplier to China.

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