Gazprom shares on the Moscow Exchange hit 17-year lows on Wednesday on news that China had de facto suspended negotiations on the Power of Siberia 2 gas pipeline, which the Kremlin hoped would replace lost European gas markets.
During trading, Gazprom shares fell to 90.21 rubles—their lowest since November 20, 2008—down nearly 3%. Gazprom has fallen 11% since the beginning of July, 27% since the start of the year, and has lost almost 80% of its market capitalization compared to its pre-war highs in autumn 2021. The gas refrigeration sector is currently worth 2.147 trillion rubles, or $28 billion—36 times less than the $1 trillion market capitalization that company CEO Alexey Miller promised to achieve two decades ago.
Operating the world’s largest proven gas reserves, Gazprom lost its largest customers after the Kremlin’s failed attempt to “freeze” Europe in order to extract concessions on Ukraine. Gazprom’s supplies to the European market have fallen to their lowest level since the early 1970s, and plans to redirect gas exported to the EU to the Chinese market are failing.
According to The Wall Street Journal, during Vladimir Putin’s most recent visit to Beijing, Chinese officials asked that the new Power of Siberia 2 gas pipeline not be raised again until Russian conditions change. China, according to the Journal’s sources, is demanding a reduction in gas prices to domestic Russian levels, which is five times lower than Gazprom’s current prices for China, which already include a discount of over 30%.
(c)THE MOSCOW TIMES 2026
“According to The Wall Street Journal, during Vladimir Putin’s most recent visit to Beijing, Chinese officials asked that the new Power of Siberia 2 gas pipeline not be raised again until Russian conditions change. ”
The Chinks have mafia land by the balls.
They’ve had them by the balls all along. They’re just squeezing harder and harder.
“Chankers are demanding a reduction in gas prices to domestic Russian levels” – in other words, we are going to absorb SE orcville into bat virus land, so lets cut to the chase and start billing appropriately now.
Bat virus land has people entering mafia land all the time, increasing the chink population in ever greater numbers. Soon, Peking will have to invade Siberia to “protect” chinese speakers there.