OREANDA-NEWS Thanks to the Power of Siberia-2 gas pipeline, Moscow will be able to compensate for the European Union's refusal of Russian pipeline gas. This was reported by Bloomberg.

According to his experts, with the Power of Siberia-2 fully loaded, supplies via this pipeline will be equivalent to a third of Russia's pre-war gas exports to Europe. In addition, the construction of the pipeline will provide Russia with demand for labor and steel. As for China, it will receive a long-term source of cheap gas, although for Beijing this is more pleasant than necessary. The fact is that during the signing of the Power of Siberia-1 deal, China's demand for gas was growing at double-digit rates. However, it has stalled a lot in the last few years.

In addition, China fears excessive dependence on a single seller. Meanwhile, Russia has already become one of the main suppliers of pipeline gas to China and the third largest supplier of liquefied natural gas (LNG) after Australia and Qatar. However, the global market for this energy carrier provides China with flexible supply options that do not oblige it to enter into multi-year agreements. However, the onshore pipeline seems to be safer than the sea routes.