The Prime Minister of Mongolia doubted the start of construction of “Power of Siberia-2” in 2024
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Mongolia’s Prime Minister Luvsannamsrain Oyuun-Erdene said he expects construction of the Power of Siberia 2 gas pipeline, a joint project between Russia’s Gazprom and China’s CNPC, to begin in 2024. However, he noted that Russia and China need to agree on many details of the project, as well as study the economic component.
“Power of Siberia-2” is a projected gas pipeline from Russia to China through Mongolia with a length of 6.7 thousand km. Design of the gas pipeline began in 2020.
“The parties need more time to conduct more detailed economic studies. China and Russia are still making calculations and figuring out the volume of economic benefits,” Luvsannamsrain Oyun-Erdene told the newspaper Financial Times.
January 25 in an article for the magazine “Energy Policy” Russian Deputy Prime Minister Alexander Novak wrote that the construction timeline for the gas pipeline will be finalized after signing binding agreements with Chinese partners. At the same time, he noted that a “technical and economic analysis of construction” was carried out on the gas pipeline.
After a meeting between Russian President Vladimir Putin and Chinese President Xi Jinping in March 2023, the Russian side claimed that the leaders “emphasized the importance of reaching agreement as soon as possible” on the gas pipeline. Meanwhile, when discussing the project, China seeks to reduce the cost of gas as much as possible.
Read more about the situation in the Kommersant article. “Commodity turnaround.”
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