Media: China, Russia put Power of Siberia 2 gas pipeline on Moscow talks agenda

Chinese President Xi Jinping and Russian President Vladimir Putin are expected to revive long-stalled talks this week on a major natural gas pipeline project that could deepen energy ties between the two countries, as Moscow looks to boost exports to Asia.

The proposed Power of Siberia 2 pipeline, which would transport Russian gas to China via Mongolia — has faced years of setbacks due to disagreements over pricing, routing, and timing, Caliber.Az reports per Bloomberg.

Despite repeated negotiations, a final agreement has remained elusive.

Russia has grown increasingly reliant on China as a key energy buyer following sweeping Western sanctions and a sharp decline in gas exports to Europe after it invaded Ukraine in 2022. European demand, once a cornerstone of Russia’s energy economy, could dry up completely by 2027 under current EU policy plans.

Moscow hopes to secure the pipeline deal as part of a broader push to cement a strategic partnership with Beijing. The Kremlin sees the project as vital to offset the loss of its European customers and maintain revenue from its vast gas reserves.

But China, the world’s top energy importer, has been more cautious. With access to diversified energy supplies — including liquefied natural gas (LNG) and pipeline imports from Central Asia — Beijing has viewed the Russian proposal with less urgency.

China has also focused on ensuring energy security by balancing supply sources.

By Aghakazim Guliyev