Moscowtimes.ru: Russia and China have not reached an agreement on the gas price for ‘Syberian Power 2’

Although after the visit of Russian president Vladimir Putin to China at the beginning of September this year, Moscow propaganda rejected the large success of the implementation of the "Syberian Power 2" gas pipeline, no crucial agreements were actually reached. Putin and China leader Xi Jinping did not scope an agreement on the gas price to be transported through this gas pipeline.

The investment conditions of the task and the deadline for its implementation have not been agreed either. According to the first assumptions, the maximum yearly capacity of "Siberian Powers 2" would be up to 50 billion cubic metres of "blue fuel". Even this size cannot replace the amount of gas previously exported to the European Union.

Even if the task details were yet agreed next year, it would take at least 5 years to implement. That's the same amount of time it takes to get full power.

Currently, “Gazprom” sells 38 billion cubic metres of gas to China per year. It is transported by the "Syberia 1" gas pipeline dedicated in 2019. Beijing pays 38% little for gas than Western customers paid for. Moreover, in 2026 the price of gas sold to China will be even lower (US$240 per 1000 cubic meters).

In the first half of this year, “Gazprom” sold 8 billion cubic metres of gas to Europe. By the end of the year transportation may not exceed 16 billion. This is the lowest level of exports of this natural material since the early 1970s.

Before the invasion in Ukraine, at the highest of the moment, the Russians sold any 200 billion cubic metres of gas per year to the EU.

Source: Moscowtimes.ru

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