Russia and China discuss resuming the 50 billion cubic meter Power of Siberia 2 pipeline as Middle East energy disruptions heighten supply concerns.
Russian President Vladimir Putin and Chinese leader Xi Jinping are set to discuss the long-delayed Power of Siberia 2 gas pipeline during their meeting in Beijing. The 2,600-kilometer pipeline, capable of delivering 50 billion cubic meters of gas annually, has stalled over pricing disputes, with China seeking rates near $120 per 1,000 cubic meters and Russia pushing for higher terms.
The project, initially agreed in a 2025 memorandum, would complement the existing Power of Siberia 1, which supplied 38 billion cubic meters to China last year. Talks have faltered over financing and delivery timelines, though recent energy market disruptions from the Iran war have renewed urgency.
China’s imports of Russian oil surged 35% year-over-year in Q1, underscoring deepening energy ties amid geopolitical shifts.