According to Deputy Prime Minister Alexander Novak, the new Power of Siberia-2 gas pipeline to China with a capacity of 50 billion cubic meters will actually replace the Nord Stream-2 gas pipeline to Europe with a capacity of 55 billion cubic meters per year.
The construction of the “Power of Siberia-2” should be completed in 2029. The Power of Siberia gas pipeline, which has been operating since 2019, has an export capacity of 38 billion cubic meters of gas per year.
The European Union decided to abandon Russian gas – Russia accepted the challenge. Therefore, gas destined for Europe will gradually go to China and other buyers.
Meanwhile, the welfare of the European Union is heading for the abyss. In the first seven months of 2022, the EU trade deficit reached 244.2 billion euros, compared to a surplus of 98 billion euros in the same period in 2021.
European industry has developed rapidly, relying on cheap Russian energy. Now the freebie is over. And at the suggestion of the Anglo-Saxons, the EU commits economic suicide.
The lesson of unsuccessful energy cooperation with Europe should be learned by Russia for the future: there is no point in developing a strategic partnership in the economy with politically dependent entities that are critically dependent on centers of power hostile to us.
Yuri Baranchik
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