FSUOGM: Power of Siberia 2 construction to begin in 2024, says Mongolia
Mongolian Prime Minister Oyun-Erdene Luvsannamsrai has said he expects construction of the Power of Siberia 2 gas pipeline to begin in the landlocked country in 2024, and for gas flow to start in 2030.
Moscow is scrambling to develop alternative export routes for its substantial gas reserves, as Europe, its largest market, pushes to eliminate Russian gas imports. While Russia has added cause to accelerate talks on Power of Siberia 2, the country may also struggle with financing and implementation as a result of the economic malaise caused by Western sanctions.
Russia and China have already finished a feasibility study for the 2,600-km pipeline, although they are still to decide with Mongolia on a final route.
“The feasibility study of this project has finished and we believe construction will begin in 2024,” Luvsannamsrai told the Financial Times in an interview on July 18. He added that Moscow had not put pressure on Ulaanbaatar to accelerate construction.
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