Novak announced progress in negotiations with China on the Power of Siberia–2

Russia and China have made progress in discussions on the Power of Siberia–2 gas pipeline project, Russian Deputy Prime Minister Alexander Novak announced on May 9.

"There is progress. Instructions were given to speed up the process of agreeing on the final terms of the contract. As a whole, yes, work is underway there," TASS quoted the politician as saying.

Xi Jinping, President of the People's Republic of China (PRC), and Ukhnagiin Khurelsukh, President of Mongolia, also arrived in Moscow to celebrate the 80th anniversary.

The Power of Siberia–2 gas pipeline provides for the supply of up to 50 billion cubic meters of gas per year from Western Siberia to China.

Build into cubes: the Power of Siberia – 2 project may be revived in the near future

According to experts, Moscow and Beijing are able to reach an agreement on the gas pipeline as early as this year.

On May 7, Russian Energy Minister Sergei Tsivilev noted that Russia and China are at an active stage of negotiations on the Power of Siberia–2 gas pipeline, but it is unlikely that it will be signed before May 9. Tsivilev also clarified that the option of running a gas pipeline to China through Mongolia is currently being discussed.

Chinese Ambassador to Russia Zhang Hanhui said at the Eurasian Oil and Gas Forum on April 15 that China intends to negotiate with Russia on gas supplies via the Power of Siberia–2 gas pipeline or increase purchases of liquefied natural gas (LNG) in 2025.

On January 21, Russian President Vladimir Putin announced at talks with Xi Jinping that Russia ranks first in natural gas and oil supplies to China, and China is the largest consumer of Russian energy resources.