The Russian Prime Minister, Mr. Mikhail Mishustin, recently attended a summit in Beijing and met with the Chinese President, Mr. Xi Jinping to get an explicit agreement from China for the Siberia-China gas pipeline.
May 25, 2023
Mr. Mikhail Mishustin, the Russian Prime Minister, met Mr. Xi Jinping, the Chinese President, during a summit in Beijing, China. He attended the summit to get an explicit agreement from China for the Siberia-China gas pipeline among other reasons. The project is slated to boost the Russian economy, especially its declined gas revenues.
Mr. Vladimir Putin, the Russian President, is keen to finalize planned trade agreements with China, including the Power of Siberia 2 gas pipeline, which will transport natural gas from the Yamal Peninsula, Western Siberia, to China. He had previously stated that the pipeline will replace Nord Stream 2, which used to transport around 50 billion cubic meters of gas to Europe annually.
However, China is yet to commit to the project explicitly and has made vague comments about further researching the project, as per reports.
Russia has been facing a strong backlash from the West for the Russia-Ukraine war and has imposed various sanctions including on gas exports. However, China has been a diplomatic and economic supporter of the nation. According to Ms. Alicja Bachulska, a China policy expert at the European Council on Foreign Relations, China might be delaying finalizing the deal to secure lower prices.