Published: Wed, December 04, 2019
Global News | By Blake Casey

Power of Siberia pipeline to benefit Russia, China: energy expert

Power of Siberia pipeline to benefit Russia, China: energy expert

A series of policies adopted by the United States have not only undermined the interests of Russian Federation and China but also exerted a negative impact on the whole worldwide system and order, he said.

The deal was forged in 2014, when China National Petroleum Corp. and Russia's Gazprom signed a 30-year, $400 billion gas supply deal, China's CGTN reported Monday.

Analysts mentioned the three tasks have long-term financial and political advantages for Russian Federation, which has inserted itself between European markets to the west and the quickly rising Chinese language market to the east.

The new pipeline also called "Power of Siberia" pipeline will start from the Russian border in Heilongjiang and will link China's northeastern province Jilin and Liaoning.

"Russia is just not exclusively creating new revenue streams, however hedging its bets and bolstering its place strategically", mentioned power analyst Andrew Hill.

In January, Russia and Turkey will launch the TurkStream while Nord Stream-2 will boost gas output with Germany next year. In total, the pipeline measures 3,176 miles, with 2,095 miles of new construction and 1,080 miles of pre-existing pipelines.

Nord Stream-2, which might double gasoline volumes to Germany, is predicted to go surfing in mid-2020, although it has confronted opposition from the US and nations in central and japanese Europe, notably Ukraine.

He said the three projects were a sign that the Russian gas industry - "this kingpin of the global gas sector" - was becoming more mature.

Russian Federation is competing with the a major gas exporter to the European market, but its prospects have grown clouded in recent years.

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The pipeline, which Putin has called "the world's biggest construction project", crowns years of tough negotiations and work in hard conditions.

"The development of Sino-Russian ties is and will be a foreign policy priority for both our nations", Xi said on Russian television in translated remarks.

"The pipeline route passes through swampy, mountainous, seismically active, permafrost and rocky areas with extreme environmental conditions", a statement on Gazprom's website said. It was Gazprom's biggest contract. The route of the gas transmission system is along the operating East Siberia - Pacific Ocean main oil pipeline, making possible to optimize infrastructure and power supply costs.

Built by Russian state-backed utility Gazprom, the pipeline runs from reserves in eastern Siberia to the border region in northern China.

This may look concerning for LNG exporters, who are already battling low prices caused by a supply surplus and slowing growth in China, the fastest-growing major market for the super-chilled fuel and the number two importer behind Japan.

The Energy of Siberia launch got here amid continued wrangling over Nord Stream 2.

Meanwhile, Lin said that USA companies continue to suffer "substantial losses" as exports the commodity from the China since April has dropped to zero.

"It will never pay for itself", Krutikhin told AFP.

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