Putin Renames Russian-China Gas Pipeline Amid Ongoing Price Talks

Russian President Vladimir Putin has renamed the planned 'Power of Siberia 2' natural gas pipeline to China, rebranding it as the 'Power of Baikal'. The project's energy minister, Sergei Tsivilev, announced this change at the Eastern Economic Forum in Vladivostok. Tsivilev stated that construction preparations are in their final stages.

The pipeline spans approximately 2,600 kilometers and aims to transport up to 50 billion cubic meters of natural gas annually. It will originate in the Arctic gas fields of Yamal, cross Mongolia, and deliver fuel directly to Chinese markets.

Despite delays due to prolonged price negotiations between Moscow and Beijing, officials are moving forward with construction. Putin previously noted that pricing for the pipeline would rely on a standardized market formula, similar to what Russia uses for European buyers.