(Dan Tri) – President Vladimir Putin announced that Russia is discussing a new infrastructure project to supply gas to China through Mongolia.
Construction process of the Power of Siberia gas pipeline (Photo: Gazprom).
`We are discussing the possibility of implementing a large infrastructure project, supplying Russian gas to China through Mongolia,` Russian President Vladimir Putin said after meeting with Mongolian Prime Minister Luvsannamsrai
The statement was made when the two leaders attended the Eastern Economic Forum organized by Russia in the city of Vladivostok.
`The CEO of Rosneft reported to me just an hour ago that agreements were reached during his business trip to Mongolia to expand cooperation in this area. As far as I know,
Russian oil and gas corporation Gazprom has for many years been researching the plan to build a new gas pipeline called `Power of Siberia 2` through Mongolia to transport gas from Russia to China.
The existing Power of Siberia pipeline running from Russia to China was launched at the end of 2019 with a capacity of 61 billion cubic meters per year.
Right before Russia launched its military campaign in Ukraine, President Putin signed a 30-year agreement to supply gas to China.
Before the Power of Siberia pipeline became operational, virtually all of Russia’s pipelines were geared toward transporting gas to Europe, making the pivot to the East an expensive and time-consuming endeavor for
Russia last week indefinitely blocked the Nord Stream 1 pipeline, citing technical reasons due to Western sanctions.
European Commission President Ursula von der Leyen announced on September 7 that the EU will propose to member countries to impose price ceilings on Russian gas products.
In a speech at the Eastern Economic Forum yesterday, President Vladimir Putin said that the European gas market is no longer considered as important as before, when the supply is tending to shift to Asia.
`Even (Europe’s) American partners redirected their liquefied natural gas tankers to Asian countries, including China, to sell at higher prices,` Putin said.
Nick John