The Power of a Russia-China Energy Deal

Sep 9, 2025

Guest

Erica Downs

Guest

Tatiana Mitrova

Guest

Anne-Sophie Corbeau

Anne-Sophie Corbeau, Tatiana Mitrova, and Erica Downs from the Center on Global Energy Policy discuss the pivotal Russia-China energy deal, particularly focusing on the Power of Siberia 2 pipeline. They explore the geopolitical shift as Russia pivots to Asia amid Western sanctions, highlighting the implications of China's increasing dependency on Russian natural gas. The trio delves into the strategic significance of this partnership, addressing potential risks for China and how it reshapes global energy dynamics, particularly in the context of LNG markets.

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INSIGHT

Project Scale And Missing Commercial Details

Power of Siberia 2 is a proposed 50 bcm pipeline linking western Russian fields to China and mirrors Nord Stream scale.
The MOU announced lacks pricing, financing, and a gas sales agreement, making it geopolitically symbolic more than commercially binding.

INSIGHT

Geopolitical Signal Over Commercial Reality

Moscow frames PoS2 as a geopolitical pivot to Asia signaling independence from the West.
Even without construction, the project shifts perceptions and complicates financing and market expectations for new LNG projects.

ANECDOTE

Sanctioned LNG Cargoes Tested During Summit

Anne-Sophie recounts Arctic LNG2 cargos moving to China during a high-profile summit as a test of U.S. sanctions enforcement.
One cargo arrived in China, signaling Russia and China probing whether the new U.S. administration would act.

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Before it invaded Ukraine, Russia was Europe's single largest supplier of imported natural gas. But now that the European Union is considering an outright ban on all Russian gas by the end of 2027, Russia is pivoting to Asia, courting China as both a crucial new market for its gas and an important geostrategic ally.

When Russian President Vladimir Putin traveled to China at the end of August, the visit produced a series of cooperation agreements. Among them: a deal between Gazprom and the China National Petroleum Corporation to advance the long-discussed Power of Siberia 2 pipeline, a massive project that, if completed, could send 50 billion cubic meters of Russian natural gas to China each year. But the announcement is short on many details, including pricing, financing, and a timeline.

So what — beyond symbolism — does this deal actually deliver for both Russia and China in the short term? What prompted China to sign the agreement after years of delays? And what does it tell us about China's efforts to diversify its energy imports?

This week, Jason speaks with three scholars from the Center on Global Energy Policy (CGEP), Anne-Sophie Corbeau, Tatiana Mitrova, and Erica Downs, about the possible impacts of the Power of Siberia 2 pipeline agreement. The trio also recently co-authored a post about the PoS2 news on the CGEP website.

Anne-Sophie is a global research scholar at CGEP, where she focuses on hydrogen and natural gas. She previously worked as a senior analyst at BP and the International Energy Agency. Tatiana is a CGEP research fellow with twenty five years of experience dealing with Russian and global energy markets. Erica is a senior research scholar at CGEP, where she focuses on Chinese energy markets and geopolitics. Earlier in her career she held senior roles in the China Studies program of the CNA Corporation and at Eurasia Group.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O’Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.