Russia and China Target Year-End Gas Deal for Baikal Link

Russia and China are working to finalize a commercial agreement by the end of 2026 for gas supplies delivered through the Power of Baikal link, a project previously known as Power of Siberia 2. The pipeline is viewed as a strategic infrastructure project with the potential to reshape global energy flows.

Alexander Novak, the Deputy Prime Minister of Russia, stated that Gazprom PJSC and China National Petroleum Corp. are expected to conduct the commercial talks necessary to secure the deal. Novak noted that Russia is waiting for the companies to hold these discussions and expressed hope that they will reach the necessary agreements by the end of the year.