BAKU, Azerbaijan, December 26. Russia's Gazprom
has taken a major step toward the construction of the Power of
Siberia 2 gas pipeline, following agreements reached with Chinese
partners, CEO Alexey Miller said at the company’s annual meeting,
Trend reports via
Gazprom.


“These agreements are legally binding and represent a pivotal
milestone in the commencement of what is poised to be the world’s
largest gas investment project,” Miller remarked.


He conveyed his assurance that the pipeline would not only be
completed on schedule but potentially ahead of it, emphasizing the
high standards of quality that would underpin its construction. He
further highlighted Gazprom's deep expertise in executing
large-scale energy infrastructure projects as a key factor in its
success.







The Power of Siberia 2 stands as one of the most ambitious
energy infrastructure endeavors of the decade, with the potential
to dramatically alter the flow of natural gas across the Eurasian
continent. At its heart, the initiative involves the creation of a
vast pipeline designed to transport up to 50 bcm of gas annually
from Russia’s Yamal Peninsula, historically the source of energy
supplies to Europe, directly to northern China. Spanning nearly
2,600 kilometers and traversing Mongolia via the part of the Power
of Siberia-2 project (Power of Siberia-2 Gas Pipeline), this
pipeline will serve as the central physical conduit for Russia’s
strategic shift toward the East.


The strategic rationale behind this project is closely linked to
the significant transformation occurring within global energy
markets. In the wake of losing the European market, Russia has
sought to integrate its Western Siberian gas reserves with China’s
rapidly growing demand for energy. Upon full operationalization,
this pipeline, alongside the existing Power of Siberia 1 and the
Far Eastern route, could facilitate the delivery of up to 100 bcm
of gas annually to China by the mid-2030s. This would meet
approximately 20% of China’s projected total gas consumption,
thereby reducing Beijing's dependency on maritime LNG imports from
Western markets.