The optics of the meetings between the leaders of India, Russia and China at the Shanghai Cooperation Organisation (SCO) summit last month led to many instant analyses about geopolitical realignments. They overshadowed the Russian announcement of an energy agreement of global importance — on the “Power of Siberia 2” pipeline, for supply of 50 billion cubic metres (bcm) of gas per annum to China for 30 years. The planned pipeline, from the Yamal Peninsula in Western Siberia to China via Mongolia, will be one of the largest and most capital-intensive energy projects in the world, according to Alexei Miller, the
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