Deputy Premier claims Russia, China possibly to ink huge energy pact
Date
5/20/2024 8:24:01 AM
(MENAFN) Deputy Prime Minister Aleksandr Novak has indicated that Russia and China are on the brink of finalizing a significant energy deal involving the construction of the Power of Siberia 2 pipeline. This pipeline, set to transport Russian natural gas to China, is poised to facilitate the delivery of up to 50 billion cubic meters of gas annually from Russia's Yamal Region to China through Mongolia.
While Power of Siberia 2 is a focal point of the negotiations between Moscow and Beijing, Novak hinted at the existence of additional new projects during an interview with Russia 1 TV channel on Thursday. However, he refrained from providing specific details regarding these ventures.
The developments come amid Russian President Vladimir Putin's visit to Beijing, where he engaged in talks with his Chinese counterpart, Xi Jinping. The discussions centered on enhancing bilateral relations and strategic cooperation between the two nations. As part of the visit, numerous bilateral agreements, commercial deals, and regional accords are anticipated to be signed.
Russia presently supplies gas to China via the Power of Siberia pipeline, a component of the Eastern Route, under a 30-year bilateral agreement. Gas deliveries commenced in 2019, and the pipeline is anticipated to achieve its maximum operational capacity of 38 billion cubic meters annually by 2025.
MENAFN20052024000045015687ID1108234610
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.