China and Russia Have Not Reached an Agreement on the “Power of Siberia 2” Gas Pipeline: What Is Known
21 May 10:12
Russia and China failed to reach an agreement on the multibillion-dollar project to build the new “Power of Siberia 2” gas pipeline during talks between dictator Vladimir Putin and Chinese President Xi Jinping in Beijing, the Kremlin told Russian state media, according to "Komersant Ukrainian".
Putin’s press secretary, Dmitry Peskov, stated that the parties “generally reached an understanding on the main parameters,” including the route and construction schedule, but there are no specific deadlines and a number of details still need to be worked out. The project is not mentioned at all in the long list of agreements published on the Kremlin’s website following the talks.
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Strategic Significance of the Project
Russia has been promoting the “Power of Siberia 2” project for several years, especially since it became increasingly economically dependent on China following its invasion of Ukraine in 2022. The gas pipeline, with a capacity of 50 billion cubic meters per year, is set to stretch 2,600 kilometers from the Yamal Peninsula in Western Siberia through Mongolia to China. It is important for Moscow that supplies are planned to come from fields that previously supplied exports to Europe—which plummeted after the war began.
Meanwhile, China is showing only limited interest in the project—Moscow had hoped that the energy instability caused by the war in the Middle East would change Beijing’s position, but this has not happened. Progress in negotiations remains slow amid hesitation on the Chinese side.
About 40 documents signed
Following the public portion of the talks in Beijing, Russia and China signed about 40 documents, including agreements on further strengthening their comprehensive partnership and strategic cooperation, and on deepening relations of good-neighborliness, friendship, and cooperation.
According to Russian Presidential Aide Yuri Ushakov, this is a very powerful policy document that outlines the main directions for the development of the entire complex of multifaceted bilateral ties between Russia and China, a shared vision on pressing issues on the international agenda, and the primary formats for cooperation on global affairs. Earlier, Ushakov described this document as “conceptual” in a conversation with journalists.
The talks in Beijing, Putin’s aide summarized, were generally “positive.” He noted that Russia and China had reached an agreement on “something very important” in the energy sector, but did not specify what exactly.
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