economy
Fifth Failed Attempt: Signed 40 Agreements with Xi, but Not One That is Very Important to Putin
Despite his fifth attempt and 25th visit to China during his tenure, Vladimir Putin failed to reach the long-desired agreement on the construction of the Power of Siberia 2 gas pipeline, writes The Moscow Times.
TL;DR
- Putin's visit to China did not result in an agreement for the Power of Siberia 2 gas pipeline.
- Negotiations failed to resolve key details despite agreement on basic parameters and the route.
- The primary obstacles are the gas price, with China seeking a much lower rate than Russia is offering, and concerns about future demand.
- 40 documents were signed between Moscow and Beijing, but none pertained to the Power of Siberia 2 or the oil and gas sector.
- Gasprom is reportedly in dire need of the European market's replacement, making this deal crucial.