07.10.2025, 16:03
It became known about the problems with the Power of Siberia-2
Source: OREANDA-NEWS
OREANDA-NEWS The statements of the Russian side about a breakthrough in negotiations with China on the Power of Siberia-2 gas pipeline project are not true, in reality, it was not possible to find a common language on any of the main points. This was reported by Reuters, citing sources familiar with the circumstances of the discussions.
Among other things, Russian President Vladimir Putin and Chinese President Xi Jinping did not agree on the investment terms of the project, that is, the financial obligations of the parties, the start date of construction, the possible start date of supplies, their format and the formula for calculating the cost of fuel.
For the agency's interlocutor, it is noted that even if a specific contract can be concluded next year, it will take at least five years to complete the work. The same amount is needed to increase pumping volumes to the announced 50 billion cubic meters per year.
Another source noted that Gazprom does not see the possibility of reaching at least half of the 50 billion cubic meters by 2035 if supplies begin after 2031.
Gazprom CEO Alexey Miller was the first to announce the conclusion of a legally binding memorandum on the construction of a new gas pipeline in early September after negotiations in China. He declined to provide any details, but acknowledged that gas would be cheaper for Chinese consumers than for European ones.
Later, President Vladimir Putin spoke about the agreements reached, and also did not specify the time frame for the start of construction and the conditions under which supplies should begin. Chinese officials and the media completely ignored the agreement, and the Power of Siberia-2 issue has not been raised in China for the past few years.
According to media reports, it was the price issue that remained the main obstacle in the negotiations, because Beijing insisted on extremely favorable terms for itself and was not ready to invest in the project. China does not feel the need for gas, as it has a large number of large multi-year contracts with other suppliers, while Russia, amid the conflict with Europe, has no alternative to the Chinese direction.
Among other things, Russian President Vladimir Putin and Chinese President Xi Jinping did not agree on the investment terms of the project, that is, the financial obligations of the parties, the start date of construction, the possible start date of supplies, their format and the formula for calculating the cost of fuel.
For the agency's interlocutor, it is noted that even if a specific contract can be concluded next year, it will take at least five years to complete the work. The same amount is needed to increase pumping volumes to the announced 50 billion cubic meters per year.
Another source noted that Gazprom does not see the possibility of reaching at least half of the 50 billion cubic meters by 2035 if supplies begin after 2031.
Gazprom CEO Alexey Miller was the first to announce the conclusion of a legally binding memorandum on the construction of a new gas pipeline in early September after negotiations in China. He declined to provide any details, but acknowledged that gas would be cheaper for Chinese consumers than for European ones.
Later, President Vladimir Putin spoke about the agreements reached, and also did not specify the time frame for the start of construction and the conditions under which supplies should begin. Chinese officials and the media completely ignored the agreement, and the Power of Siberia-2 issue has not been raised in China for the past few years.
According to media reports, it was the price issue that remained the main obstacle in the negotiations, because Beijing insisted on extremely favorable terms for itself and was not ready to invest in the project. China does not feel the need for gas, as it has a large number of large multi-year contracts with other suppliers, while Russia, amid the conflict with Europe, has no alternative to the Chinese direction.
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