Russia ramps up gas supply to China as EU & US tries to play hardball over ‘Ruble for gas/oil & commodities’

Shipments through the Power of Siberia mega-pipeline are rising

© Getty Images

Russian energy major Gazprom said on Friday that it has pumped more gas to China via the Power of Siberia pipeline than planned. The exports were part of the contract between Gazprom and China National Petroleum Corporation (CNPC), according to the company’s report on the first quarter results.

“Gazprom continues to supply gas in accordance with consumer requests in full compliance with contractual obligations,” Gazprom said on Friday on Telegram. “Gas supplies to China are growing via the Power of Siberia gas pipeline under a bilateral long-term contract between Gazprom and CNPC,” it added.READ MORE: Russia and China sign major energy deal

The 3,000km (1,864 mile) cross-border pipeline started official deliveries of Russian natural gas to China in 2019. The eastern route’s capacity is 61 billion cubic meters of gas per year, including 38 billion cubic meters for export.

The agreement on gas supplies via the pipeline was reached in 2014, with Gazprom and CNPC signing a 30-year contract. It’s Gazprom’s biggest agreement ever and Power of Siberia is the first natural gas pipeline between Russia and China.

For more stories on economy & finance visit RT’s business section

You can share this story on social media:

Click here for reuse options!
Copyright 2022 Hiram's 1555 Blog