Monday, March 4, 2024

Russia sets new record for gas supplies to China

Russia’s energy giant, Gazprom, has set a new record for daily gas deliveries to China through the Power of Siberia mega pipeline, the company announced on Saturday.

Gazprom supplies natural gas to its leading trading partner under a long-term contract sealed with the China National Petroleum Corporation (CNPC). The Power of Siberia is part of a $400 billion, 30-year agreement between Gazprom and CNPC inked in 2014.

“On November 23, the supply of Russian gas through the Power of Siberia pipeline once again exceeded the daily contractual obligations. Gazprom delivered all requested volumes and set a new historical record of daily gas supplies to China,” the company said in a statement on its Telegram channel.

China currently gets most of its Russian gas through the pipeline, a section of the so-called Eastern Route. It was partially launched in December 2019, becoming the first pipeline supplying Russian fuel to the neighboring state.

Last year, Russia delivered 15.5 billion cubic meters of gas to China via the Power of Siberia, which has an annual capacity of 38 billion cubic meters.

According to Russian Deputy Prime Minister Alexander Novak, gas supplies to China through the route will reach 22 billion cubic meters this year as Moscow continues to boost energy cooperation with Beijing.

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