Alexey Gromov, Principal Director on Energy studies at the Institute for Energy and Finance, commented to the newspaper Novye Izvestia on the prospects for resuming negotiations between Russia and China on the Power of Siberia-2 project implementation in the context of the US-China trade war.
So far, these actions are symbolic, since Beijing has never been critically dependent on energy resources from overseas, Alexey Gromov says:
The expert believes that the more acute the situation becomes, the higher the chances for the Russian Power of Siberia—2 project."The Chinese easily took all those missing volumes of gas that the Americans were supposed to supply on the market. The autumn-winter heating season in the Northern Hemisphere has now ended. Therefore, China is seizing the moment and can do without American LNG without significant losses to its economy.
— If China and the United States do not reach compromises on mutual trade duties in the near future, I do not rule out that during Xi Jinping's official visit to Russia on the eve of May 9, we may witness that Russia and China will sign a contract on the Power of Siberia 2. This is possible, but I emphasize that it is not predetermined. Everything will depend on the coming month, on the outcome of the current round of trade confrontation between the United States and China.
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