Kremlin spokesman Dmitry Peskov stated that Russia and China have made progress in discussions regarding the Power of Siberia 2 gas pipeline project, but a final agreement has not yet been fully reached.

The 'Power of Siberia 2' gas pipeline, intended to transport 50 billion cubic meters of natural gas annually from Russia to China, remains stalled on paper after two decades of planning.

Months after Gazprom signed a 'legally binding' memorandum with China, the Power of Siberia 2 pipeline project remains stalled, raising questions about its fate, potentially influenced by the global energy crisis and the Iran War.

Vladimir Putin and Xi Jinping held talks in Beijing, signing approximately 40 documents, including a joint declaration on a multipolar world, with new highlights emerging from their Wednesday meeting, though they failed to agree on the Power of Siberia 2 pipeline.

China has included several natural gas pipelines with Russia in the draft of its new five-year plan, raising market debate on whether the Power of Siberia 2 – a closely watched project viewed as symbolic of bilateral relations – could be on the fast track for construction. Along with language on two other pipelines, the draft said China would “advance preparatory work for the central route of the China-Russia natural gas pipeline” in the next five years, which some market observers interprete...