China’s President Xi Jinping may have thrown another lifeline to Vladimir Putin
as the two countries prepare to sign their largest-ever natural gas deal.
Gazprom, the Russian state-owned oil company, is preparing to sign a major new deal
with China that will transport a record amount of natural gas to the country.
This comes as the rest of the world severes all ties with Russia following President Vladimir Putin’s order to invade Ukraine.
Since the invasion, countries all over the world have imposed harsh sanctions on Russia.
Among these sanctions, German Chancellor Olaf Scholz ordered the withdrawal of a key document required for the Nord Stream 2 gas pipeline’s certification.
The pipeline would have carried Russian gas to Germany while avoiding Ukraine and Poland on its way through the Baltic Sea.
Experts now warn that Putin may be handed a lifeline that will mitigate
the impact of the sanctions he is currently facing in Europe and North America.
Gazprom has signed a contract to design the Soyuz Vostok pipeline across Mongolia toward China, according to a statement.
According to the statement, the new pipeline “will be a continuation of the Russian gas pipeline Power of Siberia – 2.”
The two countries are now attempting to sign a supply contract that, if successful, will allow Russia to supply up to 50 billion cubic meters of Russian gas to China per year.
Does this reveal that China may be well behind Putin after all.
What do you think?