According to a statement from Moscow, Nord Stream 2 will be “replaced” by a different gas pipeline to China, euronews reported.
Russian Energy Minister Alexander Novak announced that Power of Siberia 2, a project that Beijing and Moscow have been talking about for a while, will replace Nord Stream 2.
The Nordstream 2 pipeline is a suggested route for delivering Russian gas to Europe, especially Germany. The contentious pipeline’s building was finished in September 2021, but certification was put on hold after Russia invaded Ukraine.
When asked if the Asian pipeline may replace its European counterpart in Russia’s energy plan, Novak responded “yes” while speaking on Russian state television.
The minister said earlier in the day that China and Russia would soon agree to an agreement to deliver “50 billion cubic meters of gas” annually through the Power of Siberia 2 pipeline.
This volume is almost the maximum capacity of Nord Stream 1 – 55 billion m³ in total – which has recently been shut down.
Approximately one-third of Russian gas deliveries to the European Union were made via Nord Stream 1, a pipeline connecting Russia and Germany.
In 2022, the amount of gas exported from Russia will “drop by around 50 billion m³” Novak stated in the interview on Thursday.
The Russian energy minister added that the world’s largest energy company, Gazprom, intends to “increase its deliveries” to China to “20 billion m³ of gas” year.
This expansion will be considerably aided by the Kovytka field’s link to the Power of Siberia at the beginning of 2023, which is close to Lake Baikal.
More than 61 billion m³ of Russian gas will be transported to China in 2025, the year the pipeline reaches its maximum capacity.