Gazprom announced the supply of record volumes of gas to China
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Russia’s Gazprom said natural gas supplies to China reached a new all-time high due to rising demand.
About this informs Bloomberg.
It is noted that the Chinese National Oil and Gas Corporation (CNPC) requested volumes of gas along the “Power of Siberia-1” route, which once again exceeded Gazprom’s contractual obligations.
“Gazprom supplied all the requested volumes and set a new record for daily gas supplies to China,” the company reports.
In October, Gazprom and CNPC signed an addendum to their contract for the supply of gas through the Power of Siberia-1 gas pipeline, which provides for additional supplies until 2023.
“The Russian Federation intends to export 30 billion cubic meters of gas to China next year and eventually increase flows to 38 billion cubic meters per year. Separate deliveries via the future Far Eastern route should reach another 10 billion cubic meters per year. Gazprom is also negotiating to supply up to 50 billion cubic meters per year through the future “Power of Siberia-2″ gas pipeline, but the contract has not yet been signed,” the message reads.
Gazprom says gas supplies to China remain at the level of its historical supplies to Western Europe, which have fallen as European countries try to diversify their energy imports after Russia invades Ukraine in 2022.
We will remind:
The market capitalization of Russia’s Gazprom, which is the world’s largest gas company by production and reserves, fell lower than its oil division Gazprom Nafta amid high oil prices and after the subsidiary announced a dividend.
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