The Russian company “Gazprom” signed a legally binding agreement on the construction of a new gas pipeline “ Power of Siberia 2” to China through the territory of Mongolia and agreed to increase supplies by two more routes. This is reports Bloomberg.
General director of the company Oleksiy Miller said in Beijing that “Gazprom” plans to deliver up to 50 billion cubic meters of gas annually through Power of Siberia 2 for 30 years. He also clarified that the price of fuel will be lower than the one that the company currently offers to European customers.
Having concluded an agreement on a new pipeline, “Gazprom” seeks to strengthen its position as a key supplier of gas to China and to compensate for the decline in exports to Europe following Russia’s full-scale invasion of Ukraine.
The company agreed to increase supply through the existing gas pipeline “ Power of Siberia” by another 6 billion cubic meters every year. Currently, its throughput is 38 billion cubic meters per year. In addition, the future Far Eastern gas supply route to China, which is planned to be launched in 2027, will exceed the previously planned volume of 10 billion cubic meters per year.
Let us remind you that in May 2025, Xi Jinping and Vladimir Putin resumed negotiations regarding the “Power of Siberia-2” gas pipeline project, the implementation of which has been delayed for a long time and which is supposed to connect the economies of the two countries.
