Russia and China Strengthen Energy Ties with New Gas Pipeline Deal
Russia and China have solidified their energy partnership by signing a significant agreement for the construction of the Power of Siberia 2 pipeline, which will enable Gazprom to supply China with gas for the next 30 years. This deal comes amid increasing tensions with the West, specifically the U.S., as Russia bolsters its gas ties with China, offering cheaper rates than those available to European nations. The agreement, part of over 20 cooperative deals signed between the two nations, demonstrates a strategic pivot towards enhanced energy cooperation, with both leaders, Xi Jinping and Vladimir Putin, emphasizing the unprecedented level of their bilateral relations. While pricing details remain unclear, the pipeline is expected to transport substantial volumes of gas, further tightening the energy links between the two countries.
Reuters, Bloomberg.com, CNN, CNBC, Financial Times, The Wall Street Journal, South China Morning Post, The Moscow Times, Hindustan Times, Times of India