Vladimir Putin, the head of the Kremlin, was unable to gain approval from Chinese leader Xi Jinping for the construction of the new ‘Power of Siberia-2’ gas pipeline during his visit to Beijing. Hoping to finalize an agreement for the implementation of a large-scale energy project, the Russian Federation left the negotiations without concrete results.
This is reported by Finway
Negotiations on ‘Power of Siberia-2’ ended without breakthrough
Putin aimed to use his trip to China to secure final approval for the long-standing initiative to build a pipeline that could transport up to 50 billion cubic meters of Russian natural gas annually. However, the parties did not reach any specific agreement. This step once again highlighted the limitations in the development of energy cooperation between Russia and China, despite the increasing mutual dependence in the energy sector.
Kremlin spokesman Dmitry Peskov stated during a conversation with journalists that there are currently no clear timelines for the project’s launch. According to him, the parties have already reached a general understanding of the main parameters of the future gas pipeline, the known route, and the principles of construction have been worked out. However, some details still require further refinement and final approval.
“In fact, Putin stated during the negotiations that there is already a general understanding of the main parameters of ‘Power of Siberia-2’. There is an understanding of the route and how it will be built. Some details still need final agreement, but overall such understanding already exists,” Peskov said.
Context of Putin’s visit to China
Putin’s visit to China took place on May 19-20, immediately after the meeting of Chinese and U.S. leaders Xi Jinping and Donald Trump in Beijing, which was described as ‘historic’. Despite the Russian side’s attempts to promote its energy project, the Chinese leadership was not in a hurry to grant approval, indicating Beijing’s cautious approach to the strategic initiatives of the Russian Federation.