Gazprom’s 2030 Bet on Beijing
Speaking at the Eastern Economic Forum in Vladivostok, Russian President Vladimir Putin branded the planned Power of Siberia 2 pipeline “one of the largest energy projects in the world.” The gas, he said, will be priced by a formula “essentially the same as for deliveries to Europe … absolutely market-based.”
Gazprom, which has already lost most of its European buyers since 2022, has fixed a 2030 target to begin deliveries but admits the final pricing structure is still pending. For Moscow, the pipeline is a long-discussed project turned strategic necessity.
Transit Politics: Mongolia in the Middle
Mongolia’s Prime Minister Zandanshatar Gombojav told the Vladivostok forum that his government is ready to green-light the route, but stressed “details need to be worked out.” The pipeline will cross Mongolian territory, making Ulaanbaatar a key stakeholder in Russia’s reoriented gas trade.
Europe Offstage, Asia Center-Frame
Russia’s pivot to China underscores how fully the Ukraine war re-wired energy flows. Where Europe once dominated demand, Beijing now represents Moscow’s critical anchor client. The agreement signed in China this week, while still light on numbers, locks both sides into a partnership that Putin insists will stand on “mutually beneficial” economics.
What Comes Next
2025 H2: Technical and commercial terms of the Russia-China pipeline finalized.
2026–27: Construction milestones across Siberia and Mongolia.
2030: Gazprom targets first deliveries through Power of Siberia 2.
Conclusion
The Power of Siberia 2 marks more than a pipeline it symbolizes Russia’s irreversible shift from West to East in energy strategy. By binding its future to China with market-based terms, Moscow seeks to regain lost ground after Europe’s exit. Yet, the project’s success hinges on final price negotiations, Mongolia’s cooperation, and geopolitical stability. If realized as envisioned, it could become a cornerstone of Eurasia’s energy map for decades to come.
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Wikimediacommons
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