China Has Suspended Negotiations with Russia on the Power of Siberia 2 Gas Pipeline – WSJ

China urged the Russian delegation to stop raising the issue of the construction of the new “Power of Siberia 2” gas pipeline, which the Kremlin had hoped would replace the lost European market. Beijing will agree to the contract only on the condition that the price of gas remains at the domestic Russian level—about $50 per thousand cubic meters. 

Currently, Russia is already selling gas to China at significant discounts. This year, the Chinese side is paying $258.8 per thousand cubic meters, which is 39% less than the price charged to other foreign buyers. According to forecasts, the price will drop to $223.9 per thousand cubic meters next year, but China is demanding a further fivefold reduction, effectively forcing Moscow to subsidize the project.

This was reported by The Wall Street Journal.

During the latest round of negotiations in Beijing, the Russian Federation and the People’s Republic of China once again failed to agree on a specific launch date for the “Power of Siberia-2” gas pipeline. 

China has extended the visa-free regime for Russian citizens until the end of 2027.

China has committed to purchasing more than $17 billion worth of U.S. goods.