Beijing is less excited than Moscow about prospects for a new gas pipeline

China’s lukewarm attitude towards a major new gas pipeline poject with Russia signals a shift in power dynamics, according to a recent analysis by France 24. China provided Russia with an economic lifeline last year after Western powers slapped sanctions on Russian energy exports in response to the invasion of Ukraine. Accordingly, Russian officials have been enthusiastic to see a new gas pipeline to China go ahead, with some analysts saying it is “desperate.”

China, on the other hand, is “in no rush to sign anything unless the proposal is favorable and is shaped on China’s terms,” Maria Shagina at the International Institute for Strategic Studies (IISS) in Berlin told AFP. China is much more keen on diversifying its energy sources and has been on the lookout for agreements with suppliers from across the world, including a USD 60 bn 27-year mega contract inked with Qatar late last year.

AP Moller-Maersk (Maersk) signed an MoU with Shanghai International Port Group (SIPG) to cooperate on green methanol fuel vessel-to-vessel bunkering, according to a press release from Maersk. In the first phase of the project, SIPG will carry out vessel to vessel bunkering and fuel tank storage at Shanghai port. In a potential second phase, the companies could see the two companies explore ways to extend bunkering services upstream.