Putin’s energy threat backfires as Russia to bow to China’s demands: ‘Xi in control’

Russia has announced the Nord Stream 2 pipeline, the £8billion project that was set to pump gas to Europe through the Baltic Sea, will now be replaced by a new pipeline that will export huge amounts of gas to China.

However, experts warned that Russia’s actions in Ukraine, and its threat to cut off gas to the West, have left Putin with very few countries as potential buyers, thus reducing its leverage when negotiating contracts. 

Speaking to Express.co.uk, John Baldwin, the managing director of CNG Services said: “If Putin is sending his gas east, he’s only really sending it to China, and he won’t be in a good negotiating position.

“He can’t send it West because he’s fallen out with the EU and the UK, he can only send it east and so he’ll get a very poor price. China will pay only the absolute minimum, and they might end up owning all the gas fields, owning all the pipelines.

Article source: https://www.express.co.uk/news/science/1678679/putin-news-energy-threat-backfires-china-exploit-leverage-gas-deal-poor-price