Power of Siberia 2 yuan gas deal raises de-dollarization hopes

Russia’s Gazprom and China have reached a legally binding agreement on the route of the Power of Siberia 2 pipeline, targeting 50 bcm/year of natural gas to northern China. The planned ~2,600 km line runs via Mongolia, with an intended 30-year operating life and first deliveries around 2030. Both articles stress that “done deal” claims do not remove key uncertainties. Pricing and construction timelines remain unresolved, giving China negotiating leverage thanks to alternative supply options and a growing LNG import market, while Russia seeks replacement revenue after losing access to European gas flows post-Ukraine. Scale matters for the macro picture. If Power of Siberia 2 reaches full capacity alongside Power of Siberia 1, total pipeline volumes could approach ~100 bcm/year, potentially supplying over 20% of China’s gas demand in the 2030s. The crypto-adjacent angle is de-dollarization via settlement rails. The article links a long-term, likely yuan-based Power of Siberia 2 contract to deeper yuan energy trade, noting existing yuan use in Power of Siberia 1 and referencing China’s e-CNY (digital yuan) cross-border pilots. Traders should watch for any final confirmation of yuan pricing and delivery schedules, since that could indirectly affect Asian energy costs and, by extension, Bitcoin mining economics through electricity price dynamics. Net: impact is likely indirect and headline-driven, not an immediate on-chain catalyst.