Power of Siberia 2: Strengthening Sino-Russian Energy Ties
The Power of Siberia 2 gas pipeline promises competitive pricing for China, the largest energy consumer, based on market formulas as stated by Russian President Vladimir Putin. Despite Russia and China's initial agreement on the project, pricing specifics remain unresolved amidst Western pressure to loosen Sino-Russian ties.
- Country:
- Russia
On Wednesday, Russian President Vladimir Putin highlighted the advantages for China in the Power of Siberia 2 gas pipeline project, emphasizing the competitive pricing based on market formulas. This ambitious infrastructure promises to fortify China, the world's largest energy consumer, by securing cost-effective resources.
Despite the mutual endorsement of the project by Russia and China, as announced by Gazprom on Tuesday, the two nations have yet to finalize pricing terms. This delay reflects Chinese President Xi Jinping's strategic dismissal of Western calls to reconsider China's strong ties with Moscow.
The unfolding scenario underscores the geopolitical nuances in global energy markets, as major powers navigate economic collaborations amidst international scrutiny and differing national priorities.
(With inputs from agencies.)
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