China wants more Russian gas through old pipeline as new one stalls

The new supply could generate $1.5 billion a year for Gazprom, based on a price of gas of $250 per 1,000 cubic metres, according to Reuters calculations.

China's state-owned infrastructure monopoly PipeChina has launched a study to expand its domestic network in preparation for receiving more gas via the Power of Siberia 1 pipeline, a second Beijing-based industry source involved in the studies said.

Construction could begin in the second half of 2026, the executive added.

PipeChina did not respond to an emailed request for comment.

Russia and China are discussing raising flows via the Power of Siberia one to 45 bcm, said Sergey Sanakoev, the head of the Asia-Pacific Research Centre in Moscow, who has been involved in Russia-China talks on energy.