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Analysts delay ‘Power of Siberia – 2’ deal due to discussion of gas prices

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An agreement can be reached on the Power of Siberia-2 gas pipeline later. Experts have looked for reasons for slipping in deadlines.

According to the President of the Russian Federation Vladimir Putin, Moscow and Beijing approved almost all points of the agreement on the project. Now the participating companies, PJSC Gazprom and CNPC, need to work out some details. Russia expects the document to be signed before the end of this year.

Head of the Center for Strategic Research “Fuel and Energy Complex Economy” Alexander Amiraghyan He said that with the “Siberian Power” operating at full capacity and commissioning the next project, the share of gas imports to China could reach about 3 percent in 10-15 years, RIA Novosti reported.

“However, given the high LNG prices in the world market, the possibility of contracting gas supply on favorable terms for the Chinese side through Power of Siberia 2 may outweigh the possible costs of increased dependence on a single supplier,” the expert said.

Director of Research at Vygon Consulting Maria Belova He added that Russian raw materials are a benchmark for China in terms of cost. According to him, due to the role of the fields as a resource base and the transitional nature of the project, Beijing can expect a decrease in gas prices.

Source: Riafan

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