Gazprom and China Discuss New Gas Supply Opportunities Amid Growing Demand
L'essentiel
- Gazprom CEO Alexey Miller stated that the company and China are discussing new gas supply opportunities, with China confirming its interest.
- Miller highlighted Gazprom's resources to meet China's growing demand, projecting a 40% increase in consumption over the next decade.
Résumé généré par IA
MOSCOW, June 26. /TASS/. Gazprom and China are discussing new opportunities of supplies of gas in detail, with China confirming its interest in it, the Russian holding’s Chief Executive Officer Alexey Miller said during the company’s annual shareholders meeting, adding that Gazprom has resources to meet the growing demand for gas in China.
"In 2025, we agreed with our Chinese partners to increase supplies via the eastern and Far Eastern routes, and we are discussing new opportunities for natural gas exports in detail. That said, China is actively demonstrating its interest in this," he said.
In 2025, Gazprom became the largest gas exporter to China, Miller said, calling it the most promising market in the world. "Deliveries via the Power of Siberia pipeline’s eastern route increased by a quarter in the reporting year compared to 2024, with 38.8 bln cubic meters of gas supplied to China, exceeding our initial contractual obligations by 800 mln cubic meters," he said.
The increase in Gazprom’s contractual obligations "demonstrates a high level of mutual trust and the demand for Russian gas on the Chinese market," Miller noted. He cited estimates by Chinese experts indicating that gas consumption in China could rise by 40% over the next decade, exceeding 600 bln cubic meters. "Gazprom possesses the necessary resources to meet China’s demand for this efficient and environmentally friendly energy source. Gazprom is currently preparing to launch a second export route to China, the Far Eastern route, with gas supplies scheduled to begin in January 2027," the chief executive said.
Power of Siberia is the largest gas transportation system in eastern Russia, with an export capacity of 38 bln cubic meters of gas per year. The first pipeline deliveries of Russian gas to China via the eastern route began in December 2019 under a 30-year contract signed in 2014 between Gazprom and China’s CNPC. The total volume of deliveries over the contract’s duration will exceed 1 trillion cubic meters of gas, with the contract value totaling $400 bln.
Gazprom had brought the Power of Siberia gas pipeline to China to its maximum design capacity of 38 bln cubic meters of gas per year by December 1, 2024.
