Gazprom and CNPC discuss future Russian Gas Supplies to China

Gazprom reported that the heads of Russia's Gazprom, and China's CNPC, discussed future Russian gas deliveries to China in Beijing during their talks. Moscow is seeking stronger ties with China, which is the world's largest energy consumer.

Since the beginning of the Ukraine conflict in February 2022, Russia, which holds the world's largest reserves of gas, has diverted oil from Europe to India, and China.

Gleichzeitig, the diversification of Russian pipeline natural gas imported from the European Union is slow.

The Power of Siberia Pipeline began exporting gas to China at the end of 2019. It plans to reach its annual export capacity of 38 billion cube metres by the end of this year.

Russia and China also agreed to export 10 bcm gas from the Russian Pacific island Sakhalin from 2027.

There have been years of discussions about the Power of Siberia 2 Pipeline, which would send 50 bcm of natural gas to China per year via Mongolia. However, the two sides are still at odds over certain issues, such as gas prices.

Early September, Russian President Vladimir Putin will travel to China to take part in the celebrations of the anniversary victory over Japan during World War II.

The visit follows the May visit by Chinese President Xi Jinping to Moscow. (Reporting and editing by Barbara Lewis; Vladimir Soldatkin)

(source: Reuters)