Gazprom boosts gas deliveries to China beyond initial 2024 targets

Russian natural gas supplies via the Power of Siberia-1 pipeline to China in 2024 have exceeded the planned volumes by over 1 billion cubic meters.

This was announced by Vitaly Markelov, Deputy Chairman of the Management Committee of Gazprom, during the St. Petersburg International Gas Forum (PMGF-2024), News.Az reports, citing Russian media.

According to Markelov, despite the reduction in gas supplies to Europe, Russia is actively increasing its exports to China and Central Asian countries. This year, gas supplies to China have already exceeded Gazprom's contractual obligations by more than 1 billion cubic meters.

The Power of Siberia-1 pipeline, which connects Russian gas fields with the Chinese market, began operations in December 2019. In December 2022, the pipeline became fully operational along its entire length, and by December 2024, it will reach its full design capacity of 38 billion cubic meters per year, ahead of schedule (previously planned for early 2025).

In 2024, Gazprom set seven new records for daily gas deliveries to China. By the end of the year, it plans to deliver 30 billion cubic meters of gas through the Power of Siberia-1.

Additionally, there are discussions about further increasing deliveries beyond the pipeline's design capacity. Specifically, there is potential to raise the annual supply to 44 billion cubic meters, with earlier projections even suggesting the possibility of increasing it to 60 billion cubic meters per year.

News.Az