Mongolia expects Russia to begin construction of the “Power of Siberia 2” gas pipeline through its territory to China within two years, as Moscow moves to connect its Europe-supplying gasfields to Asia for the first time.
Mongolia’s prime minister Oyun-Erdene Luvsannamsrai told the Financial Times that while the war in Ukraine had clouded planning for the pipeline, he expected construction to go ahead.
The Power of Siberia 2 project has become critical to Russia as it faces the prospect of losing Europe as a market for its gas following its invasion of Ukraine and accusations it has “weaponised” supply to create a price crisis.
“The feasibility study of this project has finished and we believe construction will begin in 2024,” Luvsannamsrai said.
The prime minister also said Rio Tinto’s huge Oyu Tolgoi mine project in Mongolia was on schedule and that the country was making progress in preparations to deal with looming…