The massive energy trade between Russia and China willl “eventually lead to a reconfiguration of the oil and gas supply in the world" - Victor Gao, vice-president of the Beijing-based Center for China and Globalization
"Power of Siberia" (PS) is more than just Gazprom-operated pipelines in Eastern Siberia that transports natural gas to China,
it is also a strategic partnership between Moscow and Beijing that redefines geopolitics through the lens of energy and allows the Belt Road Initiative to extend up into the Arctic while curbing Western dominationPS-1 pipeline is 4000 km with a full capacity of 61 billion m3 per annum of natural gas, of which 38 billion m3 per annum is already contracted for China National Petroleum Corporation (CNPC) for 30 years, and connects the world’s biggest natural gas exporter to the world’s largest energy consumer
Further, Putin and Xi are discussing PS-2, a 6000+ km long pipeline that is projected to run through Mongolia and connect the current west-bound pipeline grid with a new east-bound grid and consequently open a new route for Russian energy exports. Construction could begin as early as 2024
When fully realized, Russia is projecting to deliver 1 trillion m3 per annum of natural gas to China. This project ranks #15 on Project Management Institute's Most Influential Projects of 2020
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