Finance
Putin and XI to talk energy, discuss Power of Siberia 2 gas pipeline
Published by Global Banking & Finance Review®
Posted on May 6, 2025
2 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 6, 2025
2 min readLast updated: January 24, 2026
Putin and Xi will discuss energy cooperation, focusing on the Power of Siberia 2 pipeline, as Russia seeks to replace Europe with China as its major gas customer.
MOSCOW (Reuters) -Russia's Vladimir Putin and China's Xi Jinping will discuss the "most sensitive" issues, including energy cooperation and a proposed Power of Siberia 2 gas pipeline to China, Kremlin aide Yuri Ushakov said on Tuesday.
Xi will start an official four-day visit to Moscow on Wednesday and will be among a number of the global leaders, invited in the Russian capital to celebrate the 80th anniversary of the defeat of Nazi Germany.
Ushakov told reporters that Russia was the largest oil and gas supplier to China, and gave an affirmative answer to a question if the Power of Siberia 2 pipeline will be discussed.
Russia proposed the pipeline via Mongolia years ago but the plan has gained urgency as Moscow looks to Beijing to replace Europe as its major gas customer.
However, China is not expected to need additional gas supply until after 2030, experts say. One of the key issues yet to be agreed to start the construction of the pipeline is the price of natural gas.
The 2,600-km pipeline could carry 50 billion cubic metres (bcm) of gas a year, slightly less than the now defunct Nord Stream 1 pipeline linking Russia to Germany under the Baltic Sea.
(Reporting by Vladimir Soldatkin; editing by Guy Faulconbridge)
The main topic is the discussion between Putin and Xi about energy cooperation, focusing on the Power of Siberia 2 gas pipeline.
The pipeline is crucial for Russia as it seeks to replace Europe with China as its major gas customer.
Experts suggest that China will not need additional gas supply until after 2030.
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