Russia to Increase Energy Shipments to China - Deputy PM
Aleksandr Novak has announced that exports via the Power of Siberia gas pipeline are set to increase, reaching 38 bcm next year. For more details, visit RT.com.
TroibNews 
Gas exports through the Power of Siberia pipeline are projected to reach 38 billion cubic meters by 2025, as stated by Deputy Prime Minister Aleksandr Novak.
This year, Russian gas exports to China via the Power of Siberia mega-pipeline are expected to hit 30 billion cubic meters, as announced by Novak. Gazprom, the pipeline’s operator, continues to supply natural gas to China based on a long-term deal established with the China National Petroleum Corporation (CNPC), stemming from a substantial $400 billion, 30-year pact sealed in 2014.
“Pipeline gas supplies are growing … Next year we will reach 38 billion cubic meters. This is a contractual obligation, the maximum volume that we will reach under the contract,” Novak mentioned in a press briefing on Tuesday.
Over the past year, Gazprom has consistently surpassed its agreed supply amounts, setting daily records frequently. In 2023, the Russian firm increased its gas shipments to China by 50% year-on-year through the Power of Siberia, totaling 22.7 billion cubic meters, which is 700 million cubic meters more than what was required by the contract.
Expectations are that gas deliveries to Russia’s main trade partner will continue to rise due to increasing demand.
There are ongoing talks about the Power of Siberia 2 pipeline, a new project that could allow for an annual delivery of up to 50 billion cubic meters of gas from Russia's Yamal Region to China via Mongolia.
Once operational, the combined pipelines could see Russian gas supplies to China nearing 100 billion cubic meters every year.
Moreover, developments in the implementation of the Far Eastern gas supply route are in progress, as noted by Novak. This new route intends to start transferring natural gas from the Sakhalin Island shelf to China by 2027, with an agreement already in place since February 2023.
In terms of energy imports, China has increased its intake of Russian gas and oil by 22.5% and 4.8%, respectively, in the first six months of the year compared to the previous year, as revealed by China’s Vice Premier Ding Xuexiang.
Lucas Dupont for TROIB News
This year, Russian gas exports to China via the Power of Siberia mega-pipeline are expected to hit 30 billion cubic meters, as announced by Novak. Gazprom, the pipeline’s operator, continues to supply natural gas to China based on a long-term deal established with the China National Petroleum Corporation (CNPC), stemming from a substantial $400 billion, 30-year pact sealed in 2014.
“Pipeline gas supplies are growing … Next year we will reach 38 billion cubic meters. This is a contractual obligation, the maximum volume that we will reach under the contract,” Novak mentioned in a press briefing on Tuesday.
Over the past year, Gazprom has consistently surpassed its agreed supply amounts, setting daily records frequently. In 2023, the Russian firm increased its gas shipments to China by 50% year-on-year through the Power of Siberia, totaling 22.7 billion cubic meters, which is 700 million cubic meters more than what was required by the contract.
Expectations are that gas deliveries to Russia’s main trade partner will continue to rise due to increasing demand.
There are ongoing talks about the Power of Siberia 2 pipeline, a new project that could allow for an annual delivery of up to 50 billion cubic meters of gas from Russia's Yamal Region to China via Mongolia.
Once operational, the combined pipelines could see Russian gas supplies to China nearing 100 billion cubic meters every year.
Moreover, developments in the implementation of the Far Eastern gas supply route are in progress, as noted by Novak. This new route intends to start transferring natural gas from the Sakhalin Island shelf to China by 2027, with an agreement already in place since February 2023.
In terms of energy imports, China has increased its intake of Russian gas and oil by 22.5% and 4.8%, respectively, in the first six months of the year compared to the previous year, as revealed by China’s Vice Premier Ding Xuexiang.
Lucas Dupont for TROIB News
