According to reports, Russian Deputy Prime Minister Alexander Novak recently announced that the "Power of Siberia 2" energy pipeline project will not start until details such as time and cost are determined.
The news caused anxiety in Mongolia, and Mongolian Prime Minister Oyun Erden urgently urged China and Russia to hold a summit on the matter. Obviously, Mongolia is eager for China and Russia to start construction as soon as possible, so that they can enjoy the benefits of "transit fees" and make money lying down.
The current international situation does not allow for the initiation of such a project. Against the backdrop of the Russian-Ukrainian conflict and the Red Sea crisis, Russia is expected to increase its gas ** to China with the "Power of Siberia 2", which is not in line with China's interests.
The sheer scale of the pipeline's annual gas through Mongolia means that China will become more dependent on Russian gas and may be at risk of rising prices. In addition to the ** issue, the pipeline also needs to transit through Mongolia, involving land interests and other issues, which may lead to Mongolia exerting pressure on China and Russia, and there is a risk of uncertainty.
Taking into account Mongolia's close relations with the United States, cooperation agreements were signed, its attitude towards the Power of Siberia 2 project is even more uncertain. People are worried that Mongolia may be arranged by the United States to interfere with this project, which will bring huge losses to China and Russia.
China and Russia need to sign a "mutual stop-loss" agreement with Mongolia and set up a professional department to jointly manage the project to ensure its viability.
From China's point of view, the construction of such a pipeline is not necessary. China has diversified its energy imports, sourcing not only natural gas from Russia, but also from other countries, such as Qatar, Turkmenistan, etc. China has a huge market advantage, and Russia is eager to open up the Chinese market, and China can ensure its own energy security by carefully balancing it, without deliberately harming its own interests for the sake of Mongolia.
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