 "China, Russia sign mega gas pipeline deal amid West’s growing frustration over Moscow’s fuel pacts")
Russia’s Gazprom has signed a deal to build the Power of Siberia 2 gas pipeline to China via Mongolia, expanding supplies as Moscow seeks to offset falling European demand.
Russia’s state-owned gas giant Gazprom PJSC has signed a legally binding agreement to construct the Power of Siberia 2 gas pipeline to China via Mongolia, Interfax reported, citing CEO Alexey Miller during his visit to China.
At present, Russia supplies natural gas to China through the existing Power of Siberia pipeline, which has a design capacity of 38 billion cubic meters annually. Gazprom has also agreed to boost flows through this route by an additional 6 billion cubic meters per year, according to reports.
From 2027, another route — known as the Far Eastern link — is expected to add at least 10 billion cubic meters annually, with flows projected to exceed the original plan, report added.
By sealing the Power of Siberia 2 deal, Moscow is looking to strengthen its position as a key gas supplier to China and offset reduced European demand following the war in Ukraine.
The agreement comes as President Vladimir Putin attends the SCO summit in Tianjin, China.
This is a developing story.
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