The Power of Siberia 2 gas pipeline, which is supposed to connect Russian gas fields with China, is delayed in construction due to ongoing contract negotiations.
The Financial Times reports this.
China and Russia are still negotiating a supply contract for the new gas pipeline. As noted, Russia is trying to get a better price, which is delaying the start of construction.
Prime Minister of Mongolia Oyun-Erdene announced that construction may be delayed. He noted that China and Russia have not yet agreed on key details of the giant project, adding that record global gas prices over the past two years have complicated negotiations.
950 km of the planned 3,550 gas pipeline should pass through Mongolia.
Russia views the Chinese market as an alternative to the European one and strives to reorient itself to exporting to China as quickly as possible.
The Power of Siberia 2 gas pipeline will allow an additional 50 billion cubic meters of gas to be supplied to China from fields on the Yamal Peninsula in Western Siberia, which was previously supplied to Europe. Russian state-owned Gazprom began a feasibility study for the project in 2020 and wants the pipeline to be operational by 2030.
Let us remind you:
The European Union is preparing exclude the possibility of extending the agreement with Russia on gas transit through Ukraine after it expires at the end of the year.
In November 2023 reportedthat “Power of Siberia-2” is moving extremely slowly due to the position that China has taken.
2024-01-28 11:30:05
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