Gazprom has delivered the first 100 bln cubic meters of Russian natural gas to China through the Power of Siberia pipeline, as part of the contracted volumes exceeding 1 trillion cubic meters, TASS reported citint CEO of the holding Alexey Miller.
"The first 100 bln cubic meters of Russian gas have been delivered to China via the Power of Siberia pipeline from the more than 1 trillion cubic meters stipulated under the largest gas contract in the history of the industry. This is only the beginning of a long journey. The contract is valid until mid-2049," he stated.
Miller also reported that already in 2027, Gazprom will commence deliveries of Russian gas to China via a second pipeline route - the Far Eastern route.
"Our partnership with China is built on mutual trust and a shared aspiration for development and prosperity. As our Chinese colleagues say: the longer the friendship, the stronger it becomes. Projects such as Power of Siberia and the Far Eastern route are more than just deliveries of clean energy. They represent a solid connection between our countries and peoples, and mutually beneficial cooperation for many, many years to come," he added.
Since December 1, 2024, Gazprom has ramped up the Power of Siberia pipeline to its maximum design capacity of 38 bln cubic meters of gas per year. Gas deliveries via Power of Siberia in 2020 totaled 4.1 bln cubic meters, in 2021 - 10.39 bln cubic meters, in 2022 - 15.4 bln cubic meters, and in 2023 - 22.73 bln cubic meters. At the end of December last year, Miller noted that the holding would exceed its planned gas transportation volume to China in 2024, delivering approximately 31 bln cubic meters through Power of Siberia. Thus, Gazprom’s pipeline exports to China increased by more than 35%, covering roughly a quarter of the additional gas demand in China.
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 concluded in 2014 between Gazprom and China’s CNPC. The total volume of deliveries over the entire contract term will exceed 1 trillion cubic meters of gas, with the contract value amounting to $400 bln.
