Russian media: It will take several more years to sign the contract for the "Power of Siberia 2" gas pipeline project between Russia and China
According to RIA Novosti, Russia and China will still need several years to finalize the supply contract for the "Power of Siberia 2" gas pipeline project. Even if negotiations extend to 2030, China's demand for additional natural gas supplies will remain strong.
The report states that Russia and China still need several years to sign the supply contract for the "Power of Siberia 2" gas pipeline project. Pipeline construction itself will require another three to five years. The article notes that even if negotiations continue until 2030, China’s demand for additional gas supplies will not disappear.
RIA Novosti points out that China currently requires approximately 430 billion cubic meters of natural gas annually. Of this, about 170 billion cubic meters are imported, while 260 billion cubic meters come from domestic production, which continues to grow. In terms of import structure, around 80 billion cubic meters are delivered via pipelines, and 90 billion cubic meters are in the form of liquefied natural gas (LNG).
China National Petroleum Corporation (CNPC) forecasts that China’s annual natural gas consumption will rise to between 550 billion and 650 billion cubic meters by 2035. At that time, domestic gas production is expected to reach 310 billion cubic meters, and LNG imports are projected to increase to between 150 billion and 180 billion cubic meters.
The article says: “If these plans are implemented, China will only meet the minimum expected consumption level and will be unable to satisfy higher demand. If natural gas demand grows even stronger, the 'Power of Siberia 2' pipeline—with its annual capacity of 50 billion cubic meters—will also fail to fully meet demand. Turkmenistan’s gas will play a crucial role here as well. Negotiations on increasing the transport capacity of the Turkmenistan gas pipeline from 50 billion to 65 billion cubic meters per year have already been ongoing for a long time.”
In September 2025, Mikhail Miller, Chairman of the Management Committee of Gazprom, stated that his company has signed a legally binding memorandum with China National Petroleum Corporation regarding the construction of the "Power of Siberia 2" gas pipeline and the transit gas pipeline "Eastern Union" passing through Mongolia.
Source: sputniknews
Original article: toutiao.com/article/1866266970290188/
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