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17 May, 2024 13:23

Russia may lay new oil pipeline to China – Putin

A conduit for crude could be added to the planned mega gas pipeline, the president has said
Russia may lay new oil pipeline to China – Putin

The planned mega pipeline project that will carry natural gas from Russia to China could see an extra conduit laid for crude oil, Russian President Vladimir Putin has said.

Moscow and Beijing are nearing a deal on the construction of a mega gas pipeline known as the Power of Siberia 2. It will transport up to 50 billion cubic meters of gas annually from Yamal Region in northern Russia to China via Mongolia.

Speaking at a press conference on Friday during a two-day trip to China, Putin said it may be possible to lay an oil pipeline next to the new gas route.

Various routes [for Russia’s oil to reach China] are available, one of them is the route through Mongolia. It is possible to lay both gas and oil pipes in the same corridor. Experts should decide how best to proceed,” Putin said in the Chinese city of Harbin.

Russia has traditionally supplied oil to China via the East Siberia-Pacific Ocean pipeline, via transit through Kazakhstan, and by tankers. Moscow also plans to develop railways as another means of transporting crude to the Chinese market.

Energy negotiations between Moscow and Beijing are not limited to the mega gas pipeline, Russian Deputy Prime Minister Aleksandr Novak said on Thursday. “There are other new projects,” he added without elaborating further.

Russia became China’s largest oil supplier last year. Beijing imported a record amount of discounted Russian oil in 2023, taking advantage of Moscow’s push to find new buyers following the implementation of Ukraine-related Western sanctions.

For more stories on economy & finance visit RT's business section

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