{"id":43978,"date":"2026-05-20T04:36:13","date_gmt":"2026-05-20T04:36:13","guid":{"rendered":"https:\/\/financialrush.com\/?p=43978"},"modified":"2026-05-20T04:36:13","modified_gmt":"2026-05-20T04:36:13","slug":"behind-the-stalled-gas-pipeline-set-to-dominate-putin-xi-summit","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=43978","title":{"rendered":"Behind the stalled gas pipeline set to dominate Putin-Xi summit"},"content":{"rendered":"

\n<\/p>\n

<\/p>\n
\n
\n
\n

A Power of Siberia natural gas pipelines facility in Heihe, Heilongjiang province, China, on Tuesday, March 21, 2023. <\/p>\n

Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n

Russian President Vladimir Putin<\/a> arrived in Beijing on Wednesday to meet Chinese leader Xi Jinping, with the long-stalled Power of Siberia 2 natural gas pipeline on the agenda, as the Iran war disrupts energy supplies.<\/p>\n

Kremlin foreign policy aide Yuri Ushakov said Tuesday that the project “will be discussed in great detail<\/a> between the leaders.” <\/strong><\/p>\n

The planned 2,600-kilometer pipeline would carry 50 billion cubic meters of gas annually from Russia’s Yamal fields to China via Mongolia. Moscow and Beijing signed a legally binding memorandum<\/a> to advance construction in September 2025, but pricing, financing terms, and a delivery timeline remain unresolved.<\/p>\n

China reportedly wanted pricing terms for the new pipeline to match Russia’s domestic rate of around $120-130 per 1,000 cubic meters<\/a>, while Moscow is seeking terms closer to Power of Siberia 1, which analysts estimate would more than double that figure. <\/p>\n

China has been a major buyer of Moscow’s energy, with its imports of Russian oil jumping 35% year over year in the first quarter, according to official customs data<\/a>. <\/p>\n

The proposed additional pipeline would complement the existing Power of Siberia 1 system<\/a>, which delivered about 38 billion cubic meters of gas<\/a> to China last year, according to Reuters, and both countries agreed to expand its annual capacity further. <\/p>\n<\/div>\n

\n
\n
\n