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Russia’s Putin renames planned ‘Power of Siberia 2’ pipeline to ‘Power of Baikal’ pipeline, minister says

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VLADIVOSTOK, Russia, Sept ‌2 (Reuters) - Russian President Vladimir Putin has ​renamed the planned "Power of Siberia 2" gas pipeline to ⁠China to the "Power of Baikal" pipeline, Russia's Energy Minister Sergei Tsivilev said on Wednesday.

He did not say ​if any other elements of the project had been changed.

"We ‌are in the final stages of moving to the construction of the project formerly known as Power ⁠of Siberia 2, but thanks to Vladimir Vladimirovich (Putin), ⁠he named it, quite literally, Power of Baikal," Tsivilev told the Eastern Economic Forum in Russia's Pacific port of Vladivostok.

The planned 2,600-km (1,616-mile) pipeline is ‌expected to carry 50 billion cubic metres (bcm) of gas ⁠per year to China through Mongolia ‌from the Arctic gas fields ​of Yamal. It would complement the existing Power of Siberia 1 pipeline that brought 38 bcm ‌of gas from Russia to ​China last year.

The planned ⁠pipeline  has long been stalled due to ‌disagreements over the price ⁠of the gas it will carry. Putin has said that the price of gas would be based ​on a market ‌formula similar to the one Russia uses to calculate ⁠the cost of shipments ​to Europe. 

(Reporting by Vladimir Soldatkin and Olesya ​AstakhovaEditing by Andrew Osborn)

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