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Although Russia is ready to start construction of the gas pipeline, Russia and China have still not agreed on the key details of the project, Mongolian Prime Minister Luvsannamsryn Oyun-Erdene said. “Both sides still need time to conduct more detailed economic studies,” he said.
According to the Prime Minister of Mongolia, global trends in the gas market over the past two years have complicated negotiations.
“China and Russia are still calculating and considering what economic benefits would be greatest from this project,” Oyun-Erdene said.
On January 25, Russian Deputy Prime Minister Alexander Novak announced that the deadline for the construction of “Sila Sibiri-2” and the main technical-economic indicators will be determined after “all necessary agreements have been signed with Chinese partners.”
In October, Deputy Prime Minister Viktoria Abramchenko announced that the construction of “Sila Sibiri – 2” would begin in the first quarter of 2024, immediately after the approval of the documentation of the “Soyuz Vostok” gas pipeline.
A new gas supply deal with China is said to be crucial for Gazprom, which has lost the European market and more than half of its exports. Currently, almost two years after the start of the war in Ukraine, Gazprom is supplying Europe with the smallest amount of gas since the last years of the USSR. In addition, “Gazprom” was forced to reduce the volume of gas production by a third, which is the largest indicator in the company’s history. “Gazprom” has calculated that deliveries through the “Sila Sibiri – 2” pipeline can begin in 2030.
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