Story perspectives

Gazprom, CNPC Sign Deal for Power of Siberia 2 Pipeline

9/11/2025

Summary

Story summary

Gazprom and China's CNPC signed a memorandum to construct the Power of Siberia 2 pipeline, targeting an annual transport of 50 billion cubic meters of gas.
The project aims to compensate for lost revenue from decreased gas sales to Europe amid the Ukraine conflict.
Financing and pricing details are still pending, with China yet to confirm the agreement.
Analysts question the project's viability due to China's variable demand and geopolitical issues.
If successful, the pipeline could lessen China's dependence on liquefied natural gas imports, affecting global gas markets.

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Story summary

Gazprom and China's CNPC signed a memorandum to construct the Power of Siberia 2 pipeline, targeting an annual transport of 50 billion cubic meters of gas.
The project aims to compensate for lost revenue from decreased gas sales to Europe amid the Ukraine conflict.
Financing and pricing details are still pending, with China yet to confirm the agreement.
Analysts question the project's viability due to China's variable demand and geopolitical issues.
If successful, the pipeline could lessen China's dependence on liquefied natural gas imports, affecting global gas markets.