Putin will make his fifth attempt to persuade Xi to support Power of Siberia 2
During his visit to Beijing, Russian dictator Vladimir Putin will once again attempt to reach an agreement with Chinese leader Xi Jinping on the construction of the "Power of Siberia 2" gas pipeline. \
According to Bloomberg, this marks the Kremlin’s fifth attempt to push the project forward in the past four years.
Moscow hopes that the situation on global energy markets will force China to take a more flexible stance on the gas deal.
According to sources close to the government, Russia hopes that the turmoil in energy markets caused by the conflict in the Middle East will force China to show greater flexibility in negotiations over the gas pricing contract for the planned “Power of Siberia 2” gas pipeline project.
One Russian official noted that the Chinese have expressed interest in accelerating the negotiations, although no significant progress has been made so far.
According to Putin’s foreign policy adviser, Yuri Ushakov, the gas pipeline issue “is on the agenda.”
“We are ready to discuss it seriously. I believe the leaders will discuss this topic in detail,” he said.
However, Bloomberg notes that progress on any deal depends on Xi, and so far there are no signs that Russia can easily reach an agreement.
"As pressure on the economy intensifies, Russia is relying heavily on trade with China to mitigate the impact of Western sanctions imposed over its full-scale invasion of Ukraine, now in its fifth year. U.S. President Donald Trump’s war with Iran could give Moscow an opportunity to shift the balance of relations, as Beijing seeks greater energy security amid disruptions caused by the closure of the Strait of Hormuz,” the article states.
According to a source close to the Russian state-owned energy giant, Gazprom has made a very favorable offer regarding gas prices for the Power of Siberia 2 pipeline, which will run from Siberia to China via Mongolia, although Chinese partners have shown no desire to move forward with this project. The agency’s source added that Russia wants to agree on a gas price by September.
In March, following the outbreak of the war in Iran, China stated that it intends to make progress on the construction of the Russian gas pipeline as part of its five-year plan.
And in late April, Gazprom CEO Alexey Miller and China National Petroleum Corporation Chairman Dai Houliang met in Beijing and discussed the “development of a strategic partnership.”
On May 9, Putin stated that “virtually all key issues” regarding cooperation in the gas and oil sectors had been agreed upon with China.
“If we manage to finalize them and bring the process to a close during the visit, I will be very pleased,” he said.
And although transport corridors through Russia have long been on the agenda of bilateral talks, according to the agency’s sources, Moscow now sees greater interest from Chinese officials in expanding transit routes overland and via the Northern Sea Route in the Arctic.
In particular, the war in Iran has also influenced this.
According to Ushakov, Putin and Xi are scheduled to hold talks on Wednesday and will have tea together in the evening to continue their discussions.
Xi Jinping toldTrump that Putin may come to regret the war against Ukraine — FT.
Putin recorded an addressto the Chinese people ahead of his visit to Beijing.
During his new visit to China, Putin plans to once again discuss with Chinese leader Xi Jinping the construction of the “Power of Siberia-2” gas pipeline, negotiations on which have been ongoing for over ten years.
Ahead of Russian dictator Vladimir Putin’s visit to Beijing, China’s Foreign Ministry announced that the parties would discuss bilateral cooperation and international issues of mutual interest. However, Ukraine was not mentioned in the official list of topics. The Kremlin has high expectations for the meeting in Beijing, but Beijing’s stance indicates caution in public statements and a reluctance to directly raise the Ukrainian issue.
