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29 Dec, 2022 05:48

Russia boosts gas supplies to China

Gazprom has revealed plans to massively increase deliveries to the Asian country
Russia boosts gas supplies to China

Russian energy major Gazprom set a new daily record on December 28 for gas deliveries to China via the Power of Siberia pipeline, the CEO of the energy giant, Aleksey Miller, announced on Wednesday.   

Gazprom has ramped up supplies to the Asian country compared to what had previously been planned for December, exceeding daily contractual obligations by up to 18.7%, Miller said.   

Russia supplies gas to China via the Power of Siberia pipeline, a section of the so-called East Route, under a bilateral long-term agreement between the two countries. The mega pipeline, which is expected to be completed and become fully operational by 2025, will provide China with 38 billion cubic meters (bcm) of Russian natural gas annually starting in 2024.   

Miller noted that this year Moscow and Beijing have signed another contract for supplies of 10 bcm from Russia’s Far East, which will bring annual exports to 48 bcm “and taking into account the export transit gas pipeline through the territory of Mongolia – [supplies will reach] almost 100 billion cubic meters,” he emphasized.   

The East Route was partially launched in December 2019, becoming the first pipeline to supply Russian gas to China. It includes the 3,000km-long Power of Siberia pipeline in Russia and a section in China that extends 5,111km (3,175 miles). 

The project is a part of a $400 billion, 30-year agreement inked between Russia’s Gazprom and China's National Petroleum Corporation in May 2014.

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

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