{"id":10216,"date":"2025-06-25T12:56:49","date_gmt":"2025-06-25T09:56:49","guid":{"rendered":""},"modified":"2025-06-25T12:56:49","modified_gmt":"2025-06-25T09:56:49","slug":"chinas-energy-pivot-power-of-siberia-2-gains-traction-after-iran-israel-conflict","status":"publish","type":"post","link":"https:\/\/harici.com.tr\/en\/chinas-energy-pivot-power-of-siberia-2-gains-traction-after-iran-israel-conflict\/","title":{"rendered":"China&#8217;s energy pivot: Power of Siberia 2 gains traction after Iran-Israel conflict"},"content":{"rendered":"<p data-spacing=\"double\">According to a report by <em>The Wall Street Journal<\/em> (WSJ), citing sources close to decision-making processes within the Chinese government, the recent conflict between Iran and Israel has heightened Beijing&#8217;s interest in Russia&#8217;s Power of Siberia 2 natural gas pipeline project.<\/p>\n<p data-spacing=\"double\">The report indicated that Beijing, increasingly concerned about the reliability of oil and natural gas supplies from the Middle East, is exploring alternative energy sources.<\/p>\n<p data-spacing=\"double\">Approximately one-third of China&#8217;s imported natural gas is supplied as liquefied natural gas (LNG) from the United Arab Emirates (UAE) and Qatar. These shipments traverse the Strait of Hormuz, a critical waterway that Iran has previously threatened to close. Furthermore, private Chinese refineries have reportedly become increasingly reliant on inexpensive Iranian oil in recent years.<\/p>\n<p data-spacing=\"double\">According to analyst data, 90% of Iran&#8217;s oil exports are directed to China, despite US sanctions. Following the announcement of a ceasefire between Iran and Israel, US President Donald Trump stated, &#8220;Now China can continue to buy oil from Iran. I hope they buy a lot from the US as well.&#8221;<\/p>\n<p data-spacing=\"double\"><strong>Price: The biggest hurdle in negotiations<\/strong><\/p>\n<p data-spacing=\"double\">Mid-month, Russian Deputy Prime Minister Alexander Novak affirmed the ongoing relevance and importance of the Power of Siberia 2 project within the framework of energy cooperation with China, in a statement to <em>Vedomosti<\/em> daily.<\/p>\n<p data-spacing=\"double\">Design work for the Power of Siberia 2 pipeline commenced in 2020. The pipeline is planned to have a total length of approximately 6,700 kilometers, with 2,700 kilometers of this route passing through Russian territory.<\/p>\n<p data-spacing=\"double\">However, <em>Financial Times<\/em> reported that the gas price proposed by China for future contracts has not satisfied the Russian side. According to the report, Beijing aims to purchase gas at a price nearly equivalent to Russia&#8217;s domestic market cost.<\/p>\n<p data-spacing=\"double\">In response to these claims, the Chinese Foreign Ministry announced that Beijing is prepared to deepen mutually beneficial cooperation with Russia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a report by The Wall Street Journal (WSJ), citing sources close to decision-making processes within the Chinese government, the recent conflict between Iran and Israel has heightened Beijing&#8217;s interest in Russia&#8217;s Power of Siberia 2 natural gas pipeline project. The report indicated that Beijing, increasingly concerned about the reliability of oil and natural [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10217,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[5],"tags":[10989,10990,529,5009,3865,9310,10688,10988,10987,10986,7417,2837,683,10763,682],"class_list":["post-10216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-russia","tag-alexander-novak","tag-beijing-energy-strategy","tag-china","tag-energy-cooperation","tag-energy-security","tag-gas-prices","tag-iran-israel-conflict","tag-iranian-oil-exports","tag-lng-supply","tag-middle-east-oil","tag-natural-gas-pipeline","tag-power-of-siberia-2","tag-russia","tag-strait-of-hormuz","tag-us-sanctions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China&#039;s energy pivot: Power of Siberia 2 gains traction after Iran-Israel conflict - 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