【By Observer News, Ruan Jiaqi】

According to Russian media such as TASS, on Wednesday, Russian President stated at a press conference on the results of his visit to China that the new agreement between Russia and China on increasing Russian pipeline gas supplies will bring a competitive advantage to China, as these gas supplies will be priced lower than those for European customers.

Putin said, "I would like to emphasize again, they will obtain the product at a reasonable market price, not the inflated prices we currently see in the eurozone."

"Moreover, most importantly, these supplies are stable and reliable. Everyone is satisfied with this outcome, and I am no exception. After all, Gazprom is one of our leading enterprises, which has been continuously exploring new markets," he added.

After years of suspension, on September 2, the CEO of Gazprom, Alexei Miller, announced that Russia and China had signed a memorandum on the construction of the "Power of Siberia-2" gas pipeline. Once completed, the pipeline will transport up to 50 billion cubic meters of gas annually from Russia to China via Mongolia for a period of 30 years.

Putin introduced at the press conference that with the new gas supply agreement reached with China, Russia's annual gas exports to China will exceed 100 billion cubic meters.

He said, "The 'Power of Siberia-2' pipeline through Mongolia will have an annual gas supply of 50 billion cubic meters. Currently, the annual gas supply via the 'Power of Siberia' pipeline is 38 billion cubic meters, and several other lines will also increase their supply. In total, the overall gas supply to China will exceed 100 billion cubic meters."

Putin also emphasized that the new gas agreement is beneficial for both countries, and there is no situation of "one side giving to the other."

"This is a win-win agreement. The implementation of the agreement follows market principles, and it is in line with the market principles specific to the region," he added. "By the way, the gas price is not determined based on current real-time prices, but rather calculated according to a specific formula. This formula is completely objective and based on market variables."

According to a news release from the Kremlin, Putin mentioned that although many major economies, including the EU, have experienced economic downturns, the global economy is still growing overall, with Asia-Pacific region showing particularly strong performance. At the same time, global energy demand continues to rise, and China, as a major growth engine of the global economy, its economic growth rate implies further expansion of energy demand.

"China's continuous economic growth has created energy demand, and Russia has the resource supply capacity to meet these needs," he recalled. "This cooperation has been progressing for a long time, and our discussions with Chinese partners have lasted for a long time. During this period, several potential options were studied, each with its own advantages and disadvantages, and the negotiations took several years."

Putin pointed out, "In the end, the achievement of this cooperation was not due to this visit to China. It is the result of the efforts of the economic entities of both sides over many years."

On September 3, before ending his visit to China, Putin held a press conference. Kremlin official website

According to RT, after concluding his official visit to China, Putin departed for Vladivostok, Russia on the evening of the 3rd. He is expected to attend the plenary session of the 10th Eastern Economic Forum held there on the 5th and deliver a speech.

This visit by Putin to China lasted four days, and the Russian side called this duration "unusual." When summarizing the trip, Putin said, "This schedule not only facilitates formal meetings at the negotiation table, but more importantly, allows us to have a large number of informal exchanges on various issues of mutual concern in a relaxed and friendly atmosphere. This is crucial and has proven to be very effective."

Regarding the outcomes of the visit to China, Putin evaluated them as "highly positive," and then added that he wanted to specifically mention the global governance initiative proposed by the Chinese side at the "Shanghai Cooperation Organization Plus" meeting.

"I think the proposal of this initiative is timely, and more importantly, its goal is to enhance positive interactions among participating countries, and also to lay the foundation for future cooperation with potential partner countries that have not yet clearly expressed willingness to establish cooperative relations," Putin said. "The unity displayed by all participating countries in China demonstrates a positive stance and a firm confidence in achieving the goals."

The Chinese global governance initiative adheres to the principle of equality among sovereign states, upholds international rule of law, practices multilateralism, advocates people-centered development, and emphasizes action-oriented approaches. It is another significant global initiative proposed by China following the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative.

People's Daily pointed out that the global governance initiative is a new concept contributed by China to lead the transformation of global governance. It adjusts and innovates the existing mechanisms and systems of global governance, which is conducive to promoting the sharing of development opportunities and addressing global challenges among the international community, and promoting the construction of a more just and reasonable global governance system, working together toward a community with a shared future for humanity.

This initiative embodies the global governance view of consultation, co-construction, and sharing, and is another clear example of China's consistent commitment to integrating its own interests into global interests and practicing multilateralism through concrete actions, demonstrating the responsibility of a major country.

On September 1, after the conclusion of the Shanghai Cooperation Organization Tianjin Summit, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with journalists from home and abroad in the press center of the summit along with Secretary-General of the Shanghai Cooperation Organization, Ermekbaev.

Regarding the question about the practical significance of the global governance initiative in addressing global problems and challenges, Wang Yi said that the global governance initiative is another important public good proposed by President Xi Jinping to the world following the three global initiatives. The four global initiatives each have their own focus and do not contradict each other. They respectively provide stability and certainty to a turbulent world from four dimensions of development, security, civilization, and governance, showcasing China's role and responsibility in international affairs.

Wang Yi emphasized that facing a world of turmoil and chaos, China will continue to stand on the right side of history, the side of human progress, and the side of multilateralism. We advocate unity rather than division, and cooperation rather than confrontation. We will uphold the global governance view of consultation, co-construction, and sharing, strengthen coordination and communication with the United Nations and all parties, and work together to implement the global governance initiative, promoting the construction of a more just and reasonable global governance system, and moving towards a community with a shared future for humanity.

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