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Power of Siberia-2 Pipeline Construction Could be Delayed

NATURAL GAS

Construction of Russia's planned new Power of Siberia-2 gas pipeline to China could be delayed according to Mongolian Prime Minister L. Oyun-Erdene via FT.

  • The new 50bcm per year pipeline from northern Russia to China via Mongolia was expected to start construction this year.
  • China and Russia have yet to agree on key details of the project, including pricing, with talks complicated by record global gas prices in the past two years said Oyun-Erdene.
  • "Those two sides still need more time to do more detailed research on the economic studies," Oyun-Erdene told the FT. "The Chinese and Russian sides are still doing the calculations and estimations and they are working on the economic benefits."
  • The construction of the Mongolian part of pipeline may start in H1 2024 according to Russian Deputy Prime Minister Viktoria Abramchenko via TASS last year.
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