icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
2 Nov, 2022 05:43

Russian gas supplies shifting away from the West

Shipments to non-CIS nations have fallen by more than 40%, while exports to China are increasing, according to Gazprom
Russian gas supplies shifting away from the West

Russian energy giant Gazprom’s natural gas supply to countries outside the Commonwealth of Independent States, a category that includes most of the EU, decreased by 42.6% in January-October versus the same period of last year, the company announced on Tuesday.

According to the report, exports amounted to 91.2 billion cubic meters (bcm) of gas, which is 67.6 bcm less than in the first ten months of 2021.

“Gazprom supplies gas according to confirmed applications,” the company wrote in a Telegram post.

Last year, the company increased gas exports to non-CIS countries by 5.8 billion cubic meters, up to 185.1 bcm.

Meanwhile, exports to China via the Power of Siberia gas pipeline have continued to grow under the Russian company’s long-term bilateral contract. According to Gazprom, deliveries via the mega gas pipeline regularly exceed daily contractual obligations.

Gazprom started pumping gas to China via the 3,000km (1,864-mile) pipeline in 2019. Also known as the Eastern Route, the Power of Siberia’s capacity is 61 billion cubic meters of gas per year, including 38 billion cubic meters for export. Moscow and Beijing are currently planning another major gas route through Mongolia called Soyuz Vostok. Gazprom is finalizing construction details for the project.

For more stories on economy & finance visit RT's business section