Russia plans to become largest gas supplier to China
In 2027, Russia and China will open the Far Eastern route to receive more gas from Russia.
Source: Russian Interfax news agency
Details: Gas delivery via the Far Eastern route to China will begin in two and a half years, in 2027.
Quote: "In 2027, the Far Eastern route will be launched with a capacity of 10 billion cubic metres of gas per year. With the Power of Siberia and the Far Eastern route reaching full capacity, Russia will become the largest gas supplier to China," said Alexei Miller, Chairman of the Gazprom Management Board.
He also noted that Gazprom is gradually increasing supplies through the Power of Siberia and that the pipeline will reach its target export capacity of 38 billion cubic metres of gas per year next year.
It is noted that China will remain the leader in gas consumption growth in the world. Some experts, including Russian and Chinese, say that gas consumption in China will double by the middle of the century.
Background:
- Gazprom's shareholders at the annual general meeting decided not to declare or pay dividends for 2023, the holding company said in a statement.
- Finnish state-owned gas supply company Gasum will no longer purchase liquefied natural gas from Russia. This decision was made after the introduction of the 14th package of EU sanctions.
- The Arbitration Court of St Petersburg has banned French company Engie S.A. from continuing arbitration proceedings against Gazprom Export at the International Court of Arbitration at the International Chamber of Commerce.
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