Vladimir Putin in China sought a project important for Russia. The power of Siberia 2 without a breakthrough
During his visit to Beijing, Russian President Vladimir Putin once again failed to convince Chinese leader Xi Jinping to sign a contract for the construction of a new, large Power of Siberia 2 gas pipeline, which highlighted the limitations of Russia's growing dependence on China in terms of energy sales, writes “The Washington Post”.
See also: Vladimir Putin in Beijing. This is what the talks are supposed to be about
Putin sought a gas pipeline in China. “Unsuccessful efforts”
Putin hoped to use the visit to finally gain Xi's acceptance of Russia's long-term proposal construction a gas pipeline that could transmit 50 billion cubic meters to China. Russian natural gas per year. However, on Wednesday, these efforts proved unsuccessful, notes The Washington Post.
Vladimir Putin met Xi Jinping in Beijing on Wednesday. The agenda of the talks included the long-delayed Power of Siberia 2 gas pipeline. The planned 2,600 km long pipeline would transmit gas from the Russian Yamal fields to China via Mongolia.
The gas pipeline would complement the existing Power of Siberia 1 system, which supplies China with approximately 38 billion cubic meters annually. gas.
See also: Xi Jinping told Trump the truth about Putin. There was a proposal
What didn't Vladimir Putin get done in China?
However, the two countries failed to finalize investment details, and the Kremlin said they had only reached a “general agreement.”
Putin did not mention the Power of Siberia 2 gas pipeline in Beijing, but Kremlin spokesman Dmitry Peskov later said that Russia and China “have reached an agreement on the main parameters of the project.”
However, “some nuances remain to be worked out” and the project does not have a clear timeline, he added, quoted by the RIA Novosti news agency.
There was no mention of oil and gas deals in the documents signed during Putin's visit and published by the Kremlin. — notes the BBC.
The Power of Siberia gas pipeline 2
During his September visit to China, Putin said that the price of gas in the system would be based on a market formula, similar to that applicable to Russian supplies to Europe.
The project took on new importance for Russia because the sanctions imposed after the invasion of Ukraine cut it off from most European customers.
What did Putin say in Beijing?
At a joint press conference on Wednesday, the Russian president said that his country was ready to continue supplying energy to China and that there was “great potential for joint renewable energy projects,” Reuters quoted him as saying.
“Russia and China actively cooperate in the energy sector. Our country is one of the largest exporters of crude oil, natural gas, including liquefied gas, and coal to China. We are, of course, ready to continue to reliably ensure uninterrupted supplies of all these fuels to the dynamically developing Chinese market,” Putin said in comments published by Russia's state news agency TASS.
The US war with Iran, which began in late February, led to the closure of the Strait of Hormuz, which disrupted the import of half of China's crude oil and the supply of almost a third of its LNG to the country.
Source: CNBC, The Washington Post, BBC
