In addition, Beijing is demanding from Moscow additional discounts on Russian gas, said a source familiar with the situation.
Gas pipeline project Power of Siberia-2, which is necessary to replace Russian Gazprom the missing European market is moving very slowly to the position taken by China. This was reported by The South China Morning Post, citing a source.
It was noted that China refused to invest in the construction of the pipeline, offering Russia to fully pay the multi-billion dollar construction bill.
“Regarding the construction, Beijing wants to make sure there are no risks or costs for it. Russia is the party that will pay the full bill,” the source told the publication.
In addition, China is demanding additional gas discounts.
It was noted that Russian President Vladimir Putin had almost no choice. The head of the Kremlin is “under enormous pressure” because if the pipeline is not built, Russia will have nowhere to put large volumes of gas.
It has already been reported Gazprom in the winter it will provide additional gas volumes to Hungary and China to compensate for the loss of European sales markets after Russian gas was denied due to Russia’s invasion of Ukraine.
According to IEA forecasts, Russia’s share of international gas trade, which was about 30% in 2021, will decrease by half to 15% in 2030.
Source: korrespondent
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