All articles tagged with #power of siberia
China has delayed the start of gas imports from Russia's Power of Siberia pipeline, which was supposed to begin on December 1, due to unspecified "technical issues." The delay is a blow to Russia's efforts to open up a new market for its gas exports and diversify away from Europe. The pipeline is expected to eventually deliver 38 billion cubic metres of gas annually to China.
Chinese President Xi Jinping's visit to Russia did not result in an agreement on the Power of Siberia 2 gas pipeline, highlighting China's unwillingness to sacrifice its economic self-interest for Russia's benefit. The lack of a deal also showed Putin's weakness and growing dependence on China. Russia is seeking new gas markets after losing Europe as its most important export market due to Putin's invasion of Ukraine. The expected level of Chinese gas demand in the 2030s, the price of gas at that time, and China's access to other global suppliers are all uncertainties.