Back to today’s briefing

Story perspectives

Beijing Boosts Russian Gas Pipeline Amid Global Turmoil

3/10/2026

50 8 Full Breakdown

Summary

Story summary

Beijing accelerates its gas pipeline project with Moscow to secure more Russian gas as conflicts disrupt LNG.
The draft five-year plan includes advancing the China-Russia natural gas pipeline and Power of Siberia 2, which could deliver 50 bcm annually.
Rising oil prices due to the U.S.–Israel conflict with Iran raise Russia's oil revenues.
India is increasing its Russian oil purchases under a U.S. waiver, while facing shortages and rationing.

History

Historical Context

In 2014, Russia and China signed a historic 30-year gas deal worth $400 billion, enabling Russia to supply 38 billion cubic meters of natural gas annually through the Power of Siberia pipeline, which began operations in December 2019. This agreement marked a strategic pivot for Russia amid Western sanctions and strengthened energy ties, reflecting both nations' efforts to enhance energy security and reduce reliance on Western markets.

1 of 2

Story summary

Beijing accelerates its gas pipeline project with Moscow to secure more Russian gas as conflicts disrupt LNG.
The draft five-year plan includes advancing the China-Russia natural gas pipeline and Power of Siberia 2, which could deliver 50 bcm annually.
Rising oil prices due to the U.S.–Israel conflict with Iran raise Russia's oil revenues.
India is increasing its Russian oil purchases under a U.S. waiver, while facing shortages and rationing.

1 / 2