Report: Russia’s Planned Gas Pipeline to China Faces Construction Delay

A man smokes a cigarette on a frozen river in Beijing on January 28, 2024. (Photo by Pedro PARDO / AFP)
A man smokes a cigarette on a frozen river in Beijing on January 28, 2024. (Photo by Pedro PARDO / AFP)
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Report: Russia’s Planned Gas Pipeline to China Faces Construction Delay

A man smokes a cigarette on a frozen river in Beijing on January 28, 2024. (Photo by Pedro PARDO / AFP)
A man smokes a cigarette on a frozen river in Beijing on January 28, 2024. (Photo by Pedro PARDO / AFP)

Mongolian Prime Minister L. Oyun-Erdene said construction of Russia's planned new Power of Siberia-2 gas pipeline to China, which was expected to start this year, may be delayed, the Financial Times reported on Sunday.
Russia has been in talks to build a new pipeline to carry 50 billion cubic meters of gas a year from northern Russia to China via Mongolia, almost as much as the now-idle Nord Stream 1 pipeline under the Baltic Sea that was damaged in 2022, Reuters said.
China and Russia have yet to agree on key details of the mammoth project, the PM told the paper, adding that record global gas prices during the past two years had complicated talks.
Gazprom, which will operate Power of Siberia-2 has said it aims to start delivering gas by 2030. But agreement on key issues, including pricing remains elusive.
"Those two sides still need more time to do more detailed research on the economic studies," Oyun-Erdene told the FT. "The Chinese and Russian sides are still doing the calculations and estimations and they are working on the economic benefits," he said.
Russia is ramping up supplies to China to compensate for the loss of much of its gas sales in Europe since its invasion of Ukraine nearly two years ago, which prompted Western states to slap sanctions on Moscow and trim reliance on Russian energy.
Russian Deputy Prime Minister Viktoria Abramchenko told state news agency TASS last year that building of the Mongolian part of Russian gas link to China may start in the first quarter or first half of 2024.



Saudi Council of Economic and Development Affairs Reviews Local, Global Economic Developments

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat
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Saudi Council of Economic and Development Affairs Reviews Local, Global Economic Developments

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat

The Saudi Council of Economic and Development Affairs has convened via video conference to review reports and agenda items, including a monthly update on local and global economic developments for October 2024.

The update provided an overview of the global economy, analyzed developments in major economies, identified key challenges, and assessed their potential impact on the national economy.

The council reviewed the Kingdom's significant strides in the cybersecurity sector. The nation's classification as a 'Role-modelling' in the UN Global Cybersecurity Index 2024 reflects the unwavering support of the wise leadership for the sector and in implementing Saudi Vision 2030's programs, it said.

The council also reviewed a report on the implementation of its decisions and recommendations from the third quarter of 2024. The report detailed the council's outputs. It highlighted a notable increase in entities achieving over 98% in performance indicators.

The council was briefed on the outcomes of the Saudi delegation's participation in the first Saudi-Brazilian Aviation Conference, including the signing of agreements and memoranda of cooperation that will further solidify the Kingdom's leading role in the aviation sector, aligning with the plans and strategies of Vision 2030.

The council discussed other topics and reports, including those related to the Local Content and Government Procurement Authority and the national program for leadership development.

It also reviewed the economic outlook report for the first quarter of 2024. It examined the executive summary of foreign trade for July, the summary of the wholesale price index report for August, and the summary of the consumer price index report for August.

It made necessary decisions and recommendations on these matters.