The Prime Minister of Mongolia, through whose territory the planned construction will be carried out, said that the construction of the planned “Power of Siberia 2” gas pipeline, which aims to connect Russia with China, will be delayed. The Financial Times says: “This is a blow to Moscow’s plans to secure a new market for gas that was previously sold in Europe.”
The massive gas pipeline, dubbed Power of Siberia 2, has been a priority for Moscow for more than a decade, but has become more important since Europe imposed restrictions on Russian gas imports in response to a full-scale invasion of Ukraine in 2022, according to the report. The Financial Times reported. Times remember.
Gas pipeline from Russia to China delayed
Its construction is scheduled to begin at the beginning of 2024. However, when asked about these plans, the Prime Minister of Mongolia, through whose territory 950 kilometers of the total 3,550 kilometers of gas pipeline is scheduled to pass, said that construction will be delayed. He said that Russia and China have not yet agreed on the basic details of this huge infrastructure project.
The two sides still need more time to conduct more detailed studies on the economic aspect (of the project), Luvsanamserin Uyun Erden told the Financial Times. He added that the Chinese and Russian sides continue to calculate and estimate the (expected) economic benefits and work to achieve them.
The power of Siberia and the power of the Siberia 2 gas pipelines connecting China and Russiatvn24.pl
As the Financial Times reported on Thursday, Russian Deputy Prime Minister Alexander Novak said, “The construction date will be determined after signing binding agreements with Chinese partners,” but he did not provide any details. The newspaper says that the leaders of Russia and China meet at least twice a year, “but while Russia continues to assert its readiness to launch the Second Siberian Force, Beijing has remained suspiciously silent” on the issue.
The creation of the Second Siberian Force is of great importance to Moscow since Europe decided to become independent of Russian gas supplies. The huge investment would significantly increase the possibility of selling raw materials to an alternative market, such as China. Although the two countries emphasize their close relations, negotiations over the previous gas pipeline – Siberian Power 1 – continued for a decade, and according to unofficial information, Beijing negotiated a gas price much lower than the price at which it was sold to the West.
See also: Moscow is working to strengthen relations with Beijing. More gas and oil will flow to China
Sino-Russian relations
Gas already flows from eastern Russia to China via the Power of Siberia 1 gas pipeline, which began operations in 2019. In 2023, it exported approximately 23 billion cubic meters of gas, and is expected to reach full capacity by 2025, i.e. 38 billion cubic metres.
The planned second gas pipeline, “Power of Siberia 2”, is scheduled to be larger, and will have a maximum capacity of 50 billion cubic metres. This pipeline will transport gas to China from deposits on the Yamal Peninsula in western Siberia, from which gas was previously exported to Europe. The gas pipeline will be operated by Gazprom. The company wanted to start gas supplies from 2030.
Read also: Russia will increase gas supplies to Hungary
Financial Times, Reuters, tvn24.pl
Main image source: Bloomberg/Pub
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