China, Russia signed more than 20 agreements including major gas pipeline project

Xi Jinping and Vladimir Putin have signed more than 20 agreements, including renewed plans for the construction of the long-discussed “Power of Siberia 2” gas pipeline between the two countries.

According to Kremlin officials, Moscow and Beijing have reached a broad understanding on the project, which is expected to transport up to 50 billion cubic metres of natural gas annually from Russia to China once completed.

Russian presidential spokesperson Dmitry Peskov said several technical matters still remain unresolved, but confirmed that both sides had already agreed in principle on the pipeline’s route and construction framework.

The proposed pipeline would transport gas from Russia’s Yamal Peninsula in western Siberia through Mongolia into northern China. The project has become a strategic priority for Moscow after Western countries sharply reduced Russian energy imports following the Ukraine war.

The new pipeline is expected to complement the existing “Power of Siberia 1” route, which began operations in 2019.

Russian energy giant Gazprom and China’s China National Petroleum Corporation have also agreed to increase annual gas deliveries through the first pipeline from 38 billion to 44 billion cubic metres.

Energy ties between the two countries have expanded rapidly in recent years. Russia accounted for just 10 percent of China’s gas imports in 2021, but that figure has now risen to more than 25 percent in 2024.

Meanwhile, China’s imports of US energy products have reportedly dropped close to zero by mid-2025, further strengthening Beijing’s energy partnership with Moscow.

Despite the progress, analysts say disagreements remain over gas pricing, investment terms and the project timeline. Reports suggest it could take Russia at least a decade to significantly expand exports through the new route.

Putin arrived in Beijing on May 19 for a two-day state visit, only days after a visit by US President Donald Trump. The Russian leader received a red-carpet welcome and guard of honour upon arrival.

During bilateral talks on Wednesday, Putin said he had long looked forward to meeting Xi, while the Chinese president stressed the importance of mutual cooperation for development and national revitalisation.

Russian state media said the visit also marks the 25th anniversary of the 2001 Treaty of Good-Neighborliness and Friendly Cooperation between Moscow and Beijing.