The large natural gas pipeline running from Russia to China, previously known as “Power of Siberia 2,” is being renamed “Power of Baikal,” it is reported. At the Eastern Economic Forum in Vladivostok on September 2, 2026, Russia’s energy minister said construction was imminent, and President Putin announced the renaming the same day.
The project is reported to be a crude oil and gas pipeline originating from the Yamal Arctic gas fields, transiting Mongolia, and connecting to China. On the Chinese side, China National Petroleum Corporation (CNPC) is reported as the receiving party, with Russia’s Gazprom as the supplier. However, a report on September 9, 2026 indicated China had again rejected Russia’s pricing proposal in negotiations, suggesting the project has not yet reached a formal contract or final investment decision (FID) stage.
The pipeline is planned at approximately 2,600km in length, with a planned annual transport capacity of 50 billion cubic meters over a 30-year supply period, it is reported. The statement on imminent construction was made September 2, 2026, and reports of continued pricing disagreements followed on September 9.
Russia has continued pursuing this pipeline project with China as a major alternative export destination following reduced gas exports to Europe, and the renaming and statements about imminent construction are seen as an effort to signal negotiating progress publicly.
Large-scale cross-border gas pipeline projects often involve prolonged price and volume negotiations, and this case illustrates how a gap can emerge between political announcements and actual contract signing or construction start.