Russian "Gazprom" has signed a legally binding agreement to build the "Power of Siberia 2" gas pipeline to China via Mongolia and agreed to expand supplies via two other routes. This is reported by UNN with reference to Bloomberg.
Details
The gas producer plans to supply up to 50 billion cubic meters per year through "Power of Siberia 2" for 30 years, Russian news agencies report, citing CEO Alexey Miller in Beijing.
The price of fuel will be lower than what "Gazprom" currently charges customers in Europe
By reaching an agreement on the new pipeline, "Gazprom" aims to expand its role as a key supplier of pipeline gas to the Asian country and partially replace the decline in supplies to Europe after the invasion of Ukraine.
The producer agreed to increase the flow to China via the existing "Power of Siberia" route by another 6 billion cubic meters per year, according to reports. Its current annual capacity is 38 billion cubic meters.
Flows through the future Far Eastern gas pipeline to China, planned for 2027, will also exceed the initially planned 10 billion cubic meters per year, according to reports.
Addition
From January to July 2025, "Gazprom" exported 9.93 billion cubic meters of gas to Europe, the lowest figure since the early 1970s. This happened after the loss of transit through Ukraine, which led to an almost twofold drop in supply volumes.
A large-scale cyber operation by the Main Intelligence Directorate to destroy the information system of Russian "Gazprom" is capable of leading to an emergency mode of operation and complicating transportation and gas supply to entire regions of the Russian Federation.