President Putin watching the ceremony for the launch of Power of Siberia 1
Beijing remains uncommitted on Power of Siberia 2 plans
Russia’s pivot to the east is encountering barriers among the Central Asian republics and due to China’s reluctance to become too dependent on Russian gas
China’s continued ambivalence over the high-profile Power of Siberia 2 (PoS 2) gas pipeline is prompting Russia to consider new options for supplying China that involve Central Asia. The strategy could see Russia expand its presence in Central Asia at a time when both Moscow and Beijing are competing for influence in the energy-rich region. Russian President Vladimir Putin’s latest visit to Beijing in mid-May failed once again to energise protracted negotiations over PoS 2, a new pipeline that would pump 50bcm/yr to northern China via Mongolia. Gazprom and China’s state-controlled CNPC have been in painstaking talks over the project, but in a sign that little progress was expected from the t
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
