Does China really need more Russian gas?
On 2–3 September 2025 Russian and Chinese leaders announced a legally binding memorandum of understanding (MoU) to construct the Power of Siberia 2 pipeline (PoS2) — a proposed 50 bcm/year route from Russia to China via Mongolia — and agreed modest increases to flows on the existing Power of Siberia (PoS1) and Far East routes. While the ceremony is politically significant, key commercial terms — notably price formula, offtake final investment decisions (FIDs) and SPA— remain unresolved.
