【Text by Observer Net, Qi Qian】According to RIA Novosti and TASS on September 2, Russia and China have signed a memorandum on the construction of the "Siberian Power-2" gas pipeline. After the completion of the pipeline, Russia will transport up to 50 billion cubic meters of natural gas to China annually through Mongolia.

The report said that Alexei Miller, CEO of Gazprom, announced this news to journalists on September 2.

Miller stated, "Based on the public statements of the leaders of Russia, China, and Mongolia, the three countries signed a legally binding memorandum today, which involves the construction of the 'Siberian Power-2' gas pipeline and the 'Eastern Alliance' gas pipeline passing through Mongolia."

He pointed out that this would enable Russia to supply up to 50 billion cubic meters of natural gas to China annually through Mongolia for a period of 30 years.

Bloomberg mentioned that Miller said the price of natural gas would be lower than the fees charged by Gazprom to its European customers.

Miller also mentioned that within the framework of President Putin's visit to China, Gazprom signed a commercial agreement with China National Petroleum Corporation, and both sides agreed to increase the annual throughput of the "Siberian Power" gas pipeline from 38 billion to 44 billion cubic meters, and the annual throughput of the "Far East" pipeline from 10 billion to 12 billion cubic meters.

According to Mongolian news agency, during the seventh meeting of the heads of state of China, Russia, and Mongolia on the morning of September 2, the parties agreed to extend the planning of the China-Russia-Mongolia Economic Corridor for another five years until 2031, and agreed to build the gas pipeline project from Russia through Mongolia to China.

On the regular press conference on September 2, Gao Jia Kun, spokesperson for the Ministry of Foreign Affairs, responded to relevant questions, stating that China and Russia have always conducted practical cooperation in various fields, including energy, based on the principles of mutual respect and win-win. "Regarding the specific projects you mentioned, we suggest you consult the relevant Chinese authorities."

Workers are welding the seams at the opening ceremony of the first section of the "Siberian Power" gas pipeline, RIA Novosti

Sino-Russian energy cooperation is an important cornerstone of bilateral practical cooperation, and energy trade has maintained a share of more than one-third of the total Sino-Russian trade volume. In January this year, President Putin of Russia announced that China is the largest source of oil and natural gas imports for Russia, and China is also the largest consumer of Russian energy resources.

In 2006, China and Russia signed the Memorandum of Understanding on the Supply of Natural Gas from Russia to China. The two countries planned to build two natural gas pipelines, one of which is the western line (Siberian Power-2), which is planned to pass through the Altai region and is expected to be over 2,000 kilometers long.

The eastern line of the Sino-Russian natural gas pipeline was officially put into operation in 2019 and was fully connected last December, while the western line pipeline has not made progress so far.

Previously, RT (Russia Today) reported that the project faced delays mainly because China and Russia had not yet reached an agreement on the gas price and pipeline route. According to the introduction, there are two route options for the project, one is to lay the pipeline through Mongolia, and the other is to let the pipeline directly connect Russia to China, passing through the Russian border town of Baikal. The former can shorten the pipeline by 1,000 kilometers, but it also represents an additional transit fee.

It is reported that if finally opened, "Siberian Power-2" is expected to transport up to 50 billion cubic meters of natural gas annually from Russia to China. Russian media analysis, under the background of Western sanctions and reduced European demand, Russia is hoping to achieve diversification of its energy export markets through this pipeline. Russia once looked forward to "Siberian Power-2" possibly replacing the "Nord Stream-2" pipeline.

Currently, Russia's natural gas supply to Europe accounts for only 19% of Europe's demand, a significant decrease compared to 40% before the outbreak of the Russia-Ukraine conflict in 2022. The European Commission plans to discuss the 17th round of sanctions against Russia in June this year. It is reported that Brussels hopes to prohibit new Russian gas transactions by the end of 2025 and terminate existing agreements by 2027.

In May this year, Russian Deputy Prime Minister Novak mentioned that negotiations on the "Siberian Power-2" gas pipeline project between Russia and China have made progress, and the leaders of the two countries have instructed to accelerate the project.

Previously, Russian Energy Minister Novakov also told the media in May that Russia and China are conducting "active negotiations" on the "Siberian Power-2" gas pipeline project, and companies are drafting contract terms. However, he said at the time that Russia and China were unlikely to sign a formal agreement on May 9, the day of the military parade commemorating the 80th anniversary of the Soviet Union's Great Patriotic War.

Regarding the delay of the "Siberian Power-2" gas pipeline project between China and Russia, Foreign Ministry Spokesperson Mao Ning said in June that finding points of common interest between the two countries, deepening the integration of interests, and achieving mutual success are the consensus of the leaders of China and Russia. We are willing to work with Russia to implement the important consensus reached by the leaders of the two countries and continuously deepen the comprehensive and mutually beneficial cooperation between the two countries.

According to CCTV News, on the morning of September 2, President Xi Jinping of China held the seventh meeting of the heads of state of China, Russia, and Mongolia in the Great Hall of the People in Beijing with President Vladimir Putin of Russia and President Ukhnaa Khurelsukh of Mongolia.

Xi Jinping pointed out that in recent years, the cooperation among the three countries of China, Russia, and Mongolia has developed steadily and achieved tangible results. The medium-term roadmap for the cooperation among the three countries has been implemented smoothly, and the trade volume among the three countries has continued to rise. The cooperation in trade, science and technology, ecological protection, and cultural exchange has been continuously deepened. As friendly neighboring countries with contiguous mountains and rivers, the Chinese side is willing to work with Russia and Mongolia to uphold the spirit of cooperation, eliminate external interference, and jointly promote the high-quality development of the trilateral cooperation.

Xi Jinping proposed three suggestions for advancing the cooperation among China, Russia, and Mongolia.

First, consolidate political trust. The more turbulent the international situation, the more China, Russia, and Mongolia should strengthen unity and cooperation, increase mutual support, respect each other's core interests and major concerns, and become a solid strategic support for each other's development and revitalization.

Second, deepen mutually beneficial cooperation. Take "hard connectivity" as an important direction, actively promote cross-border infrastructure and energy projects connecting the three countries, enrich the connotation of cooperation; take "soft connectivity" as an important support, strengthen the alignment of development strategies, expand the scale of settlement in local currencies; take "heart connectivity" as an important foundation, enhance exchanges between adjacent provinces and cities of the three countries, and strengthen cooperation in tourism and cultural heritage protection.

Third, strengthen cooperation within the framework of the Shanghai Cooperation Organization. The Shanghai Cooperation Organization is the main platform for regional countries to safeguard security and seek development. Make full use of various cooperation platforms and centers established by China during the Tianjin Summit, and expand a broader space for cooperation.

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