Power of Siberia 2: Pipeline Deal Strengthens Russia-China Energy Ties
The Power of Siberia 2 pipeline is set to benefit China with gas priced via market formulas. Russia and China signed a memorandum, aiming for 100 billion cubic meters of gas annually. No price agreement yet. Putin claims the deal will assure China's growing energy needs are met reliably and stably.
Russian President Vladimir Putin has announced that the upcoming Power of Siberia 2 gas pipeline will offer competitive advantages to China, leveraging gas prices determined by market dynamics. This development comes as the energy-hungry nation seeks steady supplies.
Despite sealing a binding memorandum for the extensive pipeline, pricing discussions between Russia's Gazprom and China are ongoing, highlighting China's leader, Xi Jinping's, strategic alignment with Moscow amid Western pressure. Putin assured that the new pipeline would facilitate the supply of over 100 billion cubic meters of gas annually once operational.
The gas pricing, according to Putin, will be determined through a market-based formula, though specifics remain undisclosed. With China's energy appetite growing, Russia, as a key natural resource powerhouse, positions itself as a reliable energy supplier.
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