Vladimir Putin and Xi Jinping are set to meet at a China‑Russia summit to hammer out details of the Power of Siberia 2 gas pipeline, a project that could lock Europe into Russian supplies for decades. The talks come just days after former U.S. president Donald Trump left Beijing, underscoring the geopolitical weight of energy ties between Moscow and Beijing. Energy ministers will attend.

Both leaders view the 2,600‑kilometre line, slated to deliver up to 38 billion cubic metres of natural gas annually, as a strategic hedge against Western sanctions. Russian officials estimate the venture could generate roughly $30 billion in revenue over its lifespan, while Chinese firms eye long‑term pricing stability for their rapidly expanding power grid. The line will cross Irkutsk, where officials promised support.

Investors are watching the outcome for clues on future cash flows in the energy sector, as the pipeline would cement Russia’s role as a key supplier to China and potentially reshape European gas markets. Confirmation of the deal would likely boost shares of Russian gas exporters while prompting European utilities to reassess diversification strategies. Analysts say it may spur renewables.