Putin, Xi to discuss delayed 'Power of Siberia 2' pipeline during Victory Day celebrations, Bloomberg reports
Presidents Vladimir Putin and Xi Jinping will discuss a long-delayed gas pipeline linking Russia and China when they meet in Moscow this week for Russia's Victory Day celebrations, Bloomberg reported on May 7.
Construction of the pipeline, referred to as Power of Siberia 2, was scheduled to begin in 2024, but has been plagued with construction issues and diplomatic tussles.
The proposed pipeline would strengthen Russia's ability to export gas to China, which is increasingly important for Russia as Europe declares its goal to fully sever the European Union's energy dependence on Moscow by 2027.
The Power of Siberia 2 pipeline would give Moscow the ability to export 50 billion cubic meters a year, and give China the advantage of cheaper LNG imports.
If completed, the 3,550-kilometer pipeline would connect Russia's Yamal Peninsula through Mongolia to China.
But in January 2024, Mongolian Prime Minister Luvsannamsrain Oyun-Erdene said Russia and China had not agreed on key details and that construction would be delayed.
In June it was reported that talks between Russia and China had reached a dead end as Beijing sought to exhort tough conditions on price and supply levels.
According to Bloomberg, the economic strains being felt currently by both countries may be forcing them to settle their differences and move the project forward.
Xi is one of 29 world leaders set to attend the Victory Day parade on May 7, according to the Kremlin, which added he would be there to "sign a number of bilateral inter-governmental and inter-departmental documents" to strengthen Chinese-Russian relations.
Read also: Ukraine ramps up drone strikes on Moscow as Russian-friendly leaders set to attend Victory Day parade
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As Russian losses in Ukraine hit 1 million, Putin faces an economic time bomb
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