China seeks to secure energy supply with new Siberian pipeline deal
- China's leadership is increasingly worried about the stability of energy supplies, especially after the recent conflict involving Iran.
- The Power of Siberia 2 pipeline project is being revisited as a potential solution to address these energy concerns.
- If implemented, this pipeline could further entrench energy dependency between China and Russia, allowing both to benefit strategically.
Iran has faced recent military challenges due to Israel's military campaign, which reportedly dealt significant damage to its nuclear ambitions. This twelve-day conflict raised concerns in China regarding the reliability of energy supplies from the Middle East, which includes gas imports that constitute approximately 30% of China's liquefied natural gas, mainly sourced from Qatar and the United Arab Emirates. The situation prompted China's leadership to consider other energy alternatives, leading to renewed discussions about building the Power of Siberia 2 pipeline. This 1,600-mile gas pipeline from Russia's Yamal Peninsula to China is pivotal for China's energy security, especially with its heavy reliance on Iranian oil, from which it imports about 90%. Meanwhile, Russia's dependency on energy trade with China has surged since losing its market in Europe following the onset of the war in Ukraine three and a half years ago. The revival of the Power of Siberia 2 could significantly bolster Russia's economy and deepen the energy ties between Moscow and Beijing, shifting geopolitical dynamics amid increasing U.S. efforts to disrupt their emerging partnership. If the project advances, it will serve as a strategic asset for both nations, highlighting the interconnectedness of authoritarian regimes in the geopolitical landscape.