On November 2, 2019, Russian President Vladimir Putin and Chinese President Xi Jinping oversaw the launch of the Power of Siberia Pipeline. The deal signed by the China National Petroleum Corp and Russian energy company Gazprom will transport natural gas from Siberia to northeastern China. The landmark $55 billion, 30 year, energy agreement will span over 5,000 miles, stretching across Russia and China.
The pipeline will provide an economic and political boost for ties between Moscow and Beijing, taking their strategic cooperation in energy to a new level. For Russia, it is a symbol of their pivot to the East at a time of deteriorating relations with the West, providing the country with a potentially enormous market outside of Europe. The Power of Siberia Pipeline is one of three high profile energy projects that Gazprom has embarked upon, along with the Nordstream 2 pipeline to Germany, and the Turkstream pipeline to Turkey and Southern Europe. For China, the pipeline will help ensure its energy security amid declining domestic gas production and rising demand. Moreover, it will likely help combat pollution with a transition from coal production to natural gas.