Russia, China to discuss energy cooperation and proposed Power of Siberia 2 gas pipeline
In an upcoming official visit, Russian President Vladimir Putin and Chinese President Xi Jinping are set to deliberate on a series of critical topics including the proposed Power of Siberia 2 gas pipeline.
Kremlin aide Yuri Ushakov confirmed the discussion agenda on Tuesday, highlighting energy cooperation as a key point of interest, reported Reuters.
The talks come as President Xi embarks on a four-day visit to Moscow, joining other global leaders to commemorate the 80th anniversary of Nazi Germany’s defeat.
Ushakov, addressing the media, acknowledged Russia’s status as China’s primary oil and gas provider and confirmed that the Power of Siberia 2 pipeline would be a subject of negotiation.
The proposed pipeline, which would traverse Mongolia, has taken on new significance as Russia seeks to pivot from Europe to China for its gas exports.
The 2,600km pipeline is designed to transport up to 50 billion cubic metres (bcm) of gas annually, a capacity comparable to the now-defunct Nord Stream 1 pipeline that once connected Russia and Germany.
This development occurs amidst the EU’s declaration to cease reliance on Russian energy, aiming to halt the import of Russian oil and gas, and phase out nuclear energy within the bloc.
The European Commission unveiled the REPowerEU Roadmap, outlining a strategy to achieve complete energy independence from Russia.
The plan involves a phased exclusion of Russian oil, gas and nuclear energy from EU markets, ensuring stable energy supply and price stability across member states.
The commission is coordinating with EU nations to implement a gradual and secure phase-out of Russian energy imports, with member states expected to submit national plans by year’s end.
The EU aims to cut Russian gas imports by one-third by the end of the current year and completely stop Russian gas imports by the end of 2027, including the prevention of new gas contracts and termination of existing spot contracts by the end of 2025.
Additionally, the commission is set to introduce measures targeting Russia’s “shadow fleet”, which is involved in oil transportation, as part of a broader effort to diminish the EU’s energy dependency on Russia.
“Russia, China to discuss energy cooperation and proposed Power of Siberia 2 gas pipeline” was originally created and published by Offshore Technology, a GlobalData owned brand.
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