All NewsEducationTVBrokers
Equities & FundsCrypto & Digital AssetsAI & TechnologyBusiness & CorporateUS Politics & PolicyGeopolitics & Global RiskMacro, Rates & FXCommodities & EnergyEuropean Politics & MarketsAsia-PacificReal Estate & Property
All NewsHome
← Back to Commodities & Energy

Russia renames 'Power of Siberia 2' gas pipeline to 'Power of Baikal'

Created at 2 Sep · 7:28 AM1 source↑ Market-relevant
IN SHORT

Russian President Vladimir Putin has renamed the planned 'Power of Siberia 2' gas pipeline to China as the 'Power of Baikal' pipeline, according to Energy Minister Sergei Tsivilev. The project, intended to carry 50 billion cubic meters of gas annually through Mongolia, has been stalled by price disagreements.

Key Numbers

50 billion cubic metresannual gas capacity to China
2,600 kmpipeline length
38 bcmgas transported by Power of Siberia 1 last year

Who's Involved

Vladimir Putin
Russian President who renamed the pipeline
Sergei Tsivilev
Russia's Energy Minister
Russia renames 'Power of Siberia 2' gas pipeline to 'Power of Baikal'

↳ Why This Matters

The renaming of the 'Power of Siberia 2' pipeline to 'Power of Baikal' signals a continued focus on energy exports to China, even as the project faces significant delays due to pricing disputes. This underscores Russia's strategic pivot towards Asian markets amidst geopolitical pressures.

Key facts

  • Russian President Vladimir Putin has renamed the planned 'Power of Siberia 2' gas pipeline to China.
  • The pipeline will now be called the 'Power of Baikal' pipeline.
  • The project is expected to transport 50 billion cubic meters of gas annually to China via Mongolia.
  • The pipeline aims to connect to Russia's Arctic gas fields of Yamal.
  • Disagreements over gas pricing have stalled the project.

Russian President Vladimir Putin has renamed the planned 'Power of Siberia 2' gas pipeline, intended to supply China, to the 'Power of Baikal' pipeline, according to Energy Minister Sergei Tsivilev. The minister announced the change at the Eastern Economic Forum in Vladivostok, stating that Putin himself had given the new name.

The 2,600-km pipeline is designed to transport 50 billion cubic meters of gas annually from Russia's Arctic gas fields in Yamal to China, passing through Mongolia. This project is meant to complement the existing Power of Siberia 1 pipeline, which delivered 38 billion cubic meters of gas to China last year.

However, the development of the 'Power of Baikal' pipeline has been significantly delayed due to ongoing disagreements over the price of the gas. Putin has previously indicated that gas pricing would be determined by a market-based formula, similar to that used for shipments to Europe.

Frequently asked questions

The pipeline was originally planned as the 'Power of Siberia 2'.

The new name for the pipeline is the 'Power of Baikal' pipeline.

The pipeline is expected to carry 50 billion cubic meters of gas per year.

The project has been stalled due to disagreements over the price of the gas it will carry.

What Happens Next

01Construction of the 'Power of Baikal' pipeline is expected to move to its final stages.
02Further negotiations on gas pricing are anticipated.
CME Headlines
  • WTI Crude Oil futures jump to $90.60 on Middle East tension.
    1 Sep · 9:22 PM
  • WTI Crude Oil futures jump to $90.60 on Middle East tension.
    1 Sep · 9:22 PM
  • Gold futures face continued pressure as mixed economic data lifts Treasury yields.
    1 Sep · 8:50 PM

How It Developed

President Vladimir Putin renamed the planned 'Power of Siberia 2' gas pipeline to China.
The pipeline will now be known as the 'Power of Baikal' pipeline.
The project is expected to carry 50 billion cubic meters of gas per year to China through Mongolia.
The pipeline has been stalled due to disagreements over gas pricing.

Sources

T1
Russia's Putin renames planned 'Power of Siberia 2' pipeline to 'Power of Baikal' pipeline, minister saysReuters

Related Stories

White House Details Venezuela Oil Deal, Securing 35% Stake
1 Sep · 10:26 PM
Bessent: Strait of Hormuz to be 'worthless' in two years due to pipelines
1 Sep · 8:07 PM
Trump pressures US oil refiners to lower pump prices
1 Sep · 11:46 PM
India's Oil Buying Driven by Price, Not Politics: ONGC Chief
1 Sep · 9:55 AM
China's Solar Power Capacity Surpasses Coal
1 Sep · 12:50 PM