Conquering the new gas pipeline that could pay for Gazprom about the fifth of the lost exports in Europe, the Kremlin has been looking from China for almost 20 years.
China has refused to invest in the Russian Gazprom project in a 2.6 thousand kilometers -third pipes. This was reported by Ukraine’s Foreign Intelligence Service.
It is noted that permission to the new gas pipeline, which could pay for the Gazprom around the fifth part of the lost export in Europe, the Kremlin has been looking from China for almost 20 years.
At a conference in Beijing, the parties were limited only to a memorandum of intentions – a contract for gas supply was still not finished.
It has been reported that the project will be forced to fund the project for a pipe of 2.6 thousand km. The final price has not been agreed on: China insists on the level of Russia’s internal tariffs- $ 120-130 per thousand cubic meters, while Moscow offers a range of $ 265-285-like Siberia-1.
The construction is estimated to be $ 25 billion and significantly increases financial pressure in Gazprom, which actually supports Chinese consumers.
According to intelligence, today the Russian corporate gas business remains unprofitable. Last year, its losses reached 11.6 billion dollars, in the first half of this year they reached 134 million dollars.
As you know, GAZPROM’s cash reserves have been reduced for the third year of succession: from $ 33 billion in early 2022 to $ 6.7 billion in June 2025. After news about the memorandum sign, Gazprom shares fell dramatically, and reduced the capitalization of $ 1.24 billion.
Recall that China did not confirm the statements of Russian dictator Vladimir Putin in a so-called end of the gas pipeline agreement, the Siberia-2 force, that Russia would provide gas to China.
Gifts to China. Russia will launch a new gas pipeline
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.