ÖMER TAŞPINAR
o.taspinar@todayszaman.com
Russia's pivot to Asia
American
policy makers have been talking about the U.S. pivot to Asia since
2010. Proving that deeds matter much more than words, it looks like
Russia is much better at playing the pivoting game.
Last week, China and Russia finally concluded -- after nearly 10 years of negotiating -- the natural gas deal of the century. According to the agreement, Gazprom, the state-owned Russian firm, will provide over 30 years the Chinese state-owned firm CNPC natural gas worth about $400 billion. The pipeline alone that will connect producer to consumer is a $70 billion project.
This energy deal is a tremendous strategic victory for Mr. Vladimir Putin as his country is facing increasing isolation from the West. This energy deal with China enables Russia to diversify its clients at a critical time, in the post-Ukraine environment where the EU and US are threatening more economic sanctions and import restrictions on Russian gas.
The deal is a win-win for both countries because China benefits from it as well. Beijing needs as many energy sources as it can find to fuel its growing economy. But what China really needs is clean energy because the air pollution level in most urban areas is at very alarming levels. Transitioning from coal to natural gas is therefore a major priority for the Chinese Communist Party, which declared a war on air pollution earlier this year.
Last week, China and Russia finally concluded -- after nearly 10 years of negotiating -- the natural gas deal of the century. According to the agreement, Gazprom, the state-owned Russian firm, will provide over 30 years the Chinese state-owned firm CNPC natural gas worth about $400 billion. The pipeline alone that will connect producer to consumer is a $70 billion project.
This energy deal is a tremendous strategic victory for Mr. Vladimir Putin as his country is facing increasing isolation from the West. This energy deal with China enables Russia to diversify its clients at a critical time, in the post-Ukraine environment where the EU and US are threatening more economic sanctions and import restrictions on Russian gas.
The deal is a win-win for both countries because China benefits from it as well. Beijing needs as many energy sources as it can find to fuel its growing economy. But what China really needs is clean energy because the air pollution level in most urban areas is at very alarming levels. Transitioning from coal to natural gas is therefore a major priority for the Chinese Communist Party, which declared a war on air pollution earlier this year.
