The negotiation of the Power of Siberia 2 pipeline has remained unresolved for 11 years, with Russia's statements failing to conceal underlying uncertainties.

Positive statements cannot conceal uncertainty: The "Power of Siberia 2" negotiations have dragged on for 11 years, with no formal contract secured in the short term

Russian Presidential Special Representative Boris Titov stated that matters related to the "Power of Siberia 2" pipeline project are nearing finalization. Considering the outcomes of Putin’s recent visit to China, this statement carries significant implications for Alexey Miller, Chairman of Gazprom, Russia’s state-owned natural gas company.

Previously reported, during Putin’s May visit to China, the natural gas contract was the most closely watched core issue—but no final agreement was reached. Only basic project parameters were aligned; the gas pricing, transportation schedule, and a formal contract remain unconfirmed. The day after the visit concluded, Gazprom's stock price dropped noticeably. Under such circumstances, Titov’s remarks about the project’s imminent realization aim to reverse negative market sentiment toward the initiative.

However, uncertainty remains before a formal commercial contract is signed. The negotiations have persisted for 11 years. Although both sides signed a legally binding memorandum in September 2025, it has yet to be converted into a commercial gas supply agreement. Each repeated claim of “soon to be finalized” only increases pressure on all parties involved, without delivering actual guarantees for execution.

Original source: toutiao.com/article/1868126347599884/

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