Russian President Vladimir Putin meets Chinese President Xi Jinping in Beijing on May 19, 2026. The primary goal is securing a final agreement for the Power of Siberia 2 gas pipeline. Russia anticipates that Middle East energy market turmoil will make China more receptive to pricing terms.
The pipeline would transit through Mongolia to help Russia replace lost European export markets. Chinese officials expressed interest in accelerating talks, though no firm progress was reported before the meeting. Gazprom has submitted a competitive offer to finalize the deal.
A successful agreement would solidify a major energy partnership and alter global natural gas supply dynamics. The outcome could impact worldwide liquefied natural gas (LNG) pricing. Discussions also include expanding land and Arctic transit routes for Russian resources.