China renews interest in Russian gas pipeline as Israel–Iran war fuels energy concerns — WSJ
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The recent conflict between Israel and Iran has prompted Beijing to renew its interest in the Power of Siberia 2 pipeline and in expanding imports of Russian natural gas, The Wall Street Journal reported, citing sources in China.
Talks on the project had long been stalled due to disagreements over pricing and ownership, as well as China’s reluctance to deepen its energy dependence on Russia. But the outbreak of war in the Middle East has led Chinese officials to reconsider the risks associated with oil and gas supplies from the region.
According to the consulting firm Rystad Energy, roughly 30 percent of China’s natural gas imports arrive in the form of liquefied natural gas from Qatar and the United Arab Emirates, passing through the Strait of Hormuz, which Iran threatened to close during the war. Even with hostilities paused, the conflict has pushed China to look for alternatives, sources told The Journal.
“The volatility and unpredictability of the military situation have shown the Chinese leadership that stable land-based pipeline supply has geopolitical benefits,” said Alexander Gabuev, an expert on China–Russia relations. “Russia could benefit from that.”
Analysts also say China is seeking to increase oil purchases from Russia. Sources cited by The Journal said that as the Trump administration seeks to “drive a wedge” between Moscow and Beijing, China is looking to deepen its partnership with Russia. Reviving the stalled pipeline project could help advance that goal.
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