Russia inks china gas deal, plans giant new pipeline

AWANI

Russia's Gazprom is set to raise gas shipments via the Power of Siberia pipeline and plans a second route. The deals, at prices lower than Europe paid, underscores how Moscow is leaning on Beijing to absorb its energy exports.

Transcript

00:00At the same time, Russia is deepening its energy pivot to China, signing new supply deals

00:06as sanctions increasingly shut it out of Europe.

00:09Gazprom has agreed to slightly increase gas supplies to China through an existing pipeline

00:14and signed a memorandum for a new second line.

00:18Pricing is set below what Europe once paid, underscoring how Moscow is leaning ever more

00:22heavily on Beijing to absorb its exports.

00:27Gazprom has agreed to boost gas flows through its existing Power of Siberia pipeline to

00:3344 billion cubic metres a year, up from 38.

00:36It has also signed a memorandum to build the Power of Siberia 2 line, which would deliver

00:41another 50 billion cubic metres annually through Mongolia.

00:46Gazprom CEO Alexei Miller said gas prices from China are lower than European levels because

00:51of long distances and difficult terrain.

00:54Russia is strengthening energy ties with China, its top trading partner, after losing market

01:00share in Europe due to sanctions.

01:02China is already Russia's biggest buyer of crude and pipeline gas, its second largest

01:07coal customer and third largest for LNG.

01:11For Chinese President Xi Jinping and his Russian counterpart Vladimir Putin, the No Limits partnership

01:16anchors a relationship between the world's largest energy consumer and its biggest resource

01:21supplier, one that has only deepened under Western sanctions over the Ukraine war.

01:26China is the most part of China.

01:27China is the most part of China.

01:28China is the most part of China.

01:29China is the most part of China.

01:30China is the most part of China.

01:31China is the most part of China.

01:32China is the most part of China.

01:33China is the most part of China.

01:34China is the most part of China.

01:35China is the most part of China.

01:36China is the most part of China.

01:37China is the most part of China.

01:38China is the most part of China.

01:39China is the most part of China.

01:40China is the most part of China.

01:41China is the most part of China.

01:42China is the most part of China.

01:43China is the most part of China.

01:44China is the most part of China.

01:45China is the most part of China.

01:46China is the most part of China.

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