A giant gas pipeline to China

The dependence of Europe with Russia, despite the sanctions, has long been extended. Now, the European Union has decided to take control and break Russian gas imports, According to Euronews. From the Kremlin they will have to redirect their flow to other markets and China is receiving you with open arms.

A change of direction. Russia has put its focus more east, betting on the Power of Siberia 2. According to Reutersthis project would allow transporting 50,000 million additional cubic meters of gas per year to China, crossing Mongolia. However, negotiations between the two countries have not been easy. The Bloomberg medium has pointed out that the project was stagnant for years due to disagreements on the route, prices and its urgency. Moscow has constantly pressed to close the agreement, but Beijing has maintained a prudent position, even delaying the signing of a preliminary agreement, since it wants to avoid passing through Mongolia.

And now? According to has had access the New York medium, the internal industrial and commercial difficulties of China make A cheaper gas supply Be a difficult opportunity to ignore. During Xi Jinping’s visit to Moscow, it has been speculated, how He has collected Economist, that Beijing could be willing to negotiate a higher price, adjusted to the cost of Russian domestic gas and paid in the original gas pipeline, Power of Siberia. However, according to sources close to negotiations, the signing of a formal agreement is not expected in the short term.

It has not gone unnoticed. The European authorities have not yet pronounced in this regard, since they remain focused on their own efforts to diversify their energy sources towards renewables, According to Reuters. However, we must not forget that during the commercial war against the US, China offered Europe imported from the US, so we will have to look at the origin of gas That arrives in Europe.

Moving the pieces in his favor. On this geopolitical board, China is playing with advantage. While Russia desperately tries to replace its lost markets in Europe, Beijing has the opportunity to ensure a long -term energy supply in favorable terms. In addition, with the increase in global tensions, the Asian giant could be using his negotiation power to strengthen his global hegemonic position. In this sense, Xi Jinping is promoting a transformation towards A more electric economywhich gives China a strategic mattress against potential Western sanctions and reinforces it in global resources and energy markets.

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Xataka | Europe is caught in gas contracts with Russia. Now look for a way to break them without paying the price