Overview

• Gazprom CEO Alexei Miller said a legally binding memorandum to build Power of Siberia 2 and the Soyuz Vostok transit line was signed during President Vladimir Putin’s visit to China.
• The route is planned to deliver about 50 billion cubic metres of gas per year from West Siberia to northern China via Mongolia, with supplies discussed on a 30‑year basis, according to Miller.
• Beijing has not publicly confirmed pipeline specifics, with state agency Xinhua reporting energy cooperation deals without naming Power of Siberia 2.
• Key commercial terms remain unsettled as Miller said pricing, financing and construction responsibilities will be negotiated separately; he indicated prices would be below those charged to European buyers.
• Gazprom and Chinese counterparts agreed to raise deliveries on the existing Power of Siberia line to roughly 44 bcm a year, with some reports also citing higher future volumes via the Far East Sakhalin route.