China And Russia JUST ANNOUNCED Their NEW MEGA Gas Pipeline That Will Be A GAME CHANGER

China And Russia JUST ANNOUNCED Their NEW MEGA Gas Pipeline That Will Be A GAME CHANGER #china #russia #oil For the first time, all of the scenarios in the World Economic Outlook show that the global demand for fossil fuels…

China And Russia JUST ANNOUNCED Their NEW MEGA Gas Pipeline That Will Be A GAME CHANGER

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China And Russia JUST ANNOUNCED Their NEW MEGA Gas Pipeline That Will Be A GAME CHANGER

#china #russia #oil

For the first time, all of the scenarios in the World Economic Outlook show that the global demand for fossil fuels has either peaked or plateaued. And Russia’s falling exports are a major factor in this because of the shifting global energy order.

Russia’s invasion of Ukraine has sparked a worldwide energy crisis, which has far-reaching and long-lasting effects. As a result, this may help speed up the shift to a more stable and environmentally friendly energy infrastructure.

You see, the energy crisis we face today is unprecedented in its scope and complexity. The oil markets have also experienced significant volatility, but natural gas, coal, and electricity have been hit the hardest.

And so in order to prevent even more severe disruptions, the International Energy Agency member countries will need to release two oil stockpiles on an unprecedented scale.

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However, the Western boycott of Russian goods is growing in response to Russia’s invasion of Ukraine.

And so, the energy sector has become a focal point of practical cooperation between China and Russia. And in his letter of congratulations to the 4th China-Russia Energy Business Forum, Chinese President Xi Jinping praised the event for being a “positive force” in ensuring global energy security.

Xi has stated that his country is open to working with Russia to develop clean and green energy sources.

He also said that China would work with other countries to ensure reliable energy supplies and a steady economy.

He added that neighboring countries have increased communication and cooperation and advanced major projects to counteract external threats.

Now, this aligns well with the long-term sustainability of their energy partnership and the prospects for a more comprehensive strategic alliance between the two nations.

In addition, Russian President Vladimir Putin dispatched a message to the attendees of the forum. He noted that the extensive partnership and decisive interactions between Russia and China are growing despite the challenges posed by the global situation.

And now, a major Russian-Chinese energy project has reached a landmark.

It’s been a good start of the year for China and Russia.

The weekend saw the completion of a crucial construction project for the East Route pipeline, which transports natural gas from Russia to China. And the news outlet Global Times cited the energy conglomerate PipeChina for this story.

Now that the construction of a tunnel under the Yangtze River is complete, gas from Russia can be piped to Shanghai.

The report states that the tunnel is over 10 kilometers long, took 28 months to build, and is equipped to house three natural gas pipelines, each of which is 1.4 meters in diameter. And by 2025, the East Route natural gas pipeline is expected to be fully operational.

The gas pipeline can operate at full capacity when the tunnel is finished. According to Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University, this is helping to ensure China has a reliable energy supply despite rising global prices.

He also described the project as a model of international cooperation and mutual benefit. And it takes advantage of China’s massive market and Russia’s natural resource wealth.

In December 2019, work began constructing the East Route natural gas pipeline, making it the first pipeline to supply Russia’s gas to China. It consists of a 5,111 km segment in China and a 3,011 km segment of Russia’s Power of Siberia pipeline.

Now, beginning in 2024, the mega pipeline will transport 38 billion cubic meters of Russian natural gas to China each year.

This is a part of the May 2014 agreement between Russia’s Gazprom and China’s National Petroleum Corporation, which is worth $400 billion over 30 years.

Now, if you remember, Xi Jinping affirmed in a joint statement with Putin before the attack on Ukraine that they had a “no limits” friendship.

And this year, Russia and China’s energy trade turnover increased by 64% year over year. Moreover, Russian Deputy Prime Minister Alexander Novak said that physical deliveries had risen by around 10% at the forum.

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