Whether the Russia-China relationship can be as lucrative as the decades of supplying gas to Europe remains to be seen.
Pulitzer Prize-winning US reporter Seymour Hersh in a blog said the United States was responsible, which the United States said was “utterly false.”
Supplies began via the Power of Siberia Pipeline in late 2019 and Russia aims to raise the annual exports to around 38 bcm from 2025. Gazprom’s most important assets are located in West Siberia and in the wider Arctic Yamal region, where the 100,000-strong city of Novy Urengoy, which celebrates its 50th anniversary in 2025, houses seasonal workers in utilitarian, high-rise blocks.
The resulting agreement, dubbed the “contract of the century,” was finalized in 1970 after the-then Soviet foreign minister Andrei Gromyko, nicknamed “Mr. Nyet” in the West for his uncompromising approach, said “da” to the gas-for-pipes deal, which involved supplies of heavy equipment for Moscow as well as gas for Europe.
Last year, Russia’s energy finances, which are not broken down publicly into oil and gas, were supported by the market impact of fears of shortage.and international oil prices shortly after the special military operation began spiked close to their all-time high. Domestic gas prices are regulated by the government and there have been discussions about liberalizing the gas market, a sensitive issue for Russian households.
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