Russian natural gas exports to China jump 60 per cent in first 4 months

It comes as major buyers, especially in Europe, have cut imports following Moscow’s invasion of Ukraine

Beijing and Moscow signed oil and gas deals in February worth an estimated US$117.5 billion

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Russian natural gas is supplied to China through the Power of Siberia pipeline. Photo: Reuters

Published: 7:46pm, 2 May 2022

Russian gas producer Gazprom said natural gas exports to China went up 60 per cent in the first four months of the year from the same period of 2021.

It comes as Moscow’s invasion of Ukraine has prompted many major buyers – especially those in Europe – to reduce their gas purchases from Russia.

Gazprom on Sunday also said natural gas sales to non-Commonwealth of Independent States (CIS) countries had dropped to 50.1 billion cubic metres in the first four months – down 26.9 per cent from a year earlier.

The Russian gas exports were supplied to China via the Power of Siberia pipeline, which began operating in 2019. Some 4.1 billion cubic metres were delivered through the pipeline in 2020 and the aim is to supply 38 billion cubic metres – its full capacity – by 2025, according to the Gazprom statement.

Russian President Vladimir Putin in February signed an estimated US$117.5 billion of oil and gas deals with Chinese leader Xi Jinping. They included a contract for Gazprom to supply China with 10 billion cubic metres of gas a year via a new pipeline – the Power of Siberia 2 – that will run from the island of Sakhalin, in the Russian Far East, to Heilongjiang province in China’s northeast.