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Construction of major Russia-China gas pipeline delayed
29 January 2024
Image: fotofotofoto via AdobeStock - stock.adobe.com
Construction of a major new gas pipeline running between Russia and China has been delayed as the two countries hammer out a deal on the proposal.
Russia is keen to build the 3,550km-long Power of Siberia 2 pipeline, crossing Mongolian territory, as it tries to secure a new customer for the gas it previously sold to Europe.
The pipeline would supply 50 billion cubic metres (bcm) of natural gas and Russia had aimed to bring it into operation by 2030.
Construction was originally due to start in 2024, according to Mongolia’s prime minister Luvsannamsrain Oyun-Erdene, speaking to the Financial Times.
Analysts told the Financial Times that rising gas prices as a result of the war in Ukraine are thought to have complicated the deal, as Russia attempts to secure a higher price. But the deal is still thought likely to go ahead.
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