China is increasing purchases of Russian gas
In 9 months of 2024, Gazprom exported 40% more gas to the People's Republic of China year-on-year
For the first time in three quarters of 2024, China became the main sales market for Russian pipeline gas, overtaking Europe in terms of purchase volumes. This is reported by Bloomberg.
In the first 9 months of 2024, the Russian PJSC "Gazprom" exported 23.7 billion cubic meters to China. m of gas. This is 40% more than in the same period last year. During this time, 22.5 billion cubic meters were delivered to Europe. m of fuel.
Supplies to China are carried out through the Power of Siberia gas pipeline. It was launched in 2019, it has a design capacity of 38 billion cubic meters. m of gas per year. Although Gazprom plans to increase the annual volume of gas supplies to China by another 10 billion cubic meters. m via the so-called Far Eastern route from 2027, it will still be a small part of what the company exported to Europe before the start of a full-scale Russian invasion of Ukraine in 2022.
During the two and a half years of the war, most of the EU countries found an alternative to Russian gas, and only a few (Austria, Hungary, Slovakia) still depend on Gazprom's resource. There are two routes for the supply of Russian pipeline gas to the European Union: the gas transport system of Ukraine and the Turkish Stream gas pipeline through the Black Sea.
As "Ukrainian Energy" reported, according to the results of 2023, Russia's largest corporation PJSC Gazprom received a record net loss of $6.1 billion.
