Russian gas leading company posts record China shipments
Date
12/18/2024 7:27:13 AM
(MENAFN) Russian energy giant Gazprom announced a new daily record for gas deliveries to China on December 7 through the Power of Siberia pipeline. The company exceeded its planned export volume at China's request, marking the eighth time this year it has surpassed its daily supply target. Gazprom expects its total gas deliveries to China in 2024 to exceed the annual contractual obligations, reaching the maximum volume of 38 billion cubic meters (bcm) a month ahead of schedule.
Under a long-term agreement, Russia is set to provide China with 38 bcm of gas annually starting in 2025. Gazprom's CEO, Aleksey Miller, emphasized the growing demand for Russian gas in China and its critical role in stabilizing the Chinese energy market. The Power of Siberia, a major part of the Eastern Route pipeline, is a 5,111km project connecting Russia and China, and a key part of a $400 billion deal between Gazprom and China’s National Petroleum Corporation (CNPC) signed in 2014.
Following the loss of European markets due to the Ukraine conflict and Western sanctions, Russia has increasingly redirected its energy exports to Asia, with China becoming the main destination for its gas.
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