Prime Minister Zandanshatar Gombojav, accompanied by the ministers, presented the draft consolidated budget of Mongolia for 2026 and briefed journalists on August 2, 2025, highlighting an agreement to construct a natural gas pipeline from the Russian Federation to the People’s Republic of China through Mongolian territory.
The Prime Minister stated, “There are two important announcements to make. First, the international credit rating agency Fitch Ratings has maintained Mongolia’s Long-Term Foreign-Currency Issuer Default rating at ‘B+, Stable.’ Second, the Russian Federation’s company, ‘Gazprom,’ and the Republic of China’s CNPC have signed a Memorandum of Understanding to initiate the construction of the ‘Soyuz Vostok’ (Power of Siberia 2) pipeline project through Mongolia. This is an unprecedentedly large-scale project, not in a century but in a millennium. Following the summit of the three countries’ Heads of State, the two companies agreed to implement this major project through Mongolia, including increasing gas procurement. This is a long-term, massive project. We are pleased to lay the foundation for a development initiative that creates opportunities for Mongolia.”

Published Date:2025-09-03