With no end in sight to Russia’s relentless war of aggression and the Russian economy slowly but surely collapsing, Kremlin boss Vladimir Putin is about to receive the next slap in the face. The praised trading partner China is apparently not particularly interested in the mega pipeline “Power of Siberia 2” to Russia.
The Russian invasion of Ukraine brought about one thing above all for the ruler of the Kremlin: the economic isolation of his country. China was soon chosen as the “saviour”. In order to make up at least part of the losses in the EU market, a “turn to the east” must take place. For this, a pipeline would have to be built through Mongolia to China, the name of the pipe should be “Power of Siberia 2”.
Russian Prime Minister Mikhail Mishustin returned from China last week in frustration. To his chagrin, he couldn’t get any results. Beijing again had not made a clear commitment about the gas pipeline planned more than a decade ago. Now Russia could be in for a gas shock.
Beijing can play poker quietly
A rather confused situation for Russia, because its dependence puts it in a weak economic bargaining position. “Beijing is known for lengthy negotiations to achieve a better outcome,” Alicja Bachulska, a China expert at the European Council on Foreign Relations, told the Financial Times. If China takes its time, it can get a lower price for the gas passing through the pipeline, she said.
The Kremlin is now desperate for additional revenue. Because the rising costs of the war and the fall in European gas sales have left a huge hole in the budget.
“Strength of Siberia 2”
The “Power of Siberia 2” is currently considered probably the most important Russian infrastructure project. The pipeline, which will cost almost 100 billion euros and will be 2,600 kilometers long, should transport about 50 billion cubic meters of gas per year from Western Siberia via Mongolia to China from 2030. This would reach the delivery volumes of the two Nord Stream pipelines.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
