Gazprom and China’s CNPC agreed in December to bring supplies via Power of Siberia up to the contract level.
Gazprom and CNPC have agreed to bring daily gas supplies to China via Power of Siberia to the maximum level of the contract in the near future, Gazprom reports. A working meeting between CNPC Chairman Alexey Miller and CNPC Chairman Dai Houliang took place in Beijing today.
“At the meeting, an additional agreement was signed to the contract for the purchase and sale of gas on the eastern route. In accordance with the request of the Chinese partners, the parties agreed on additional supplies in December 2024. Thus, the early delivery of daily gas supplies to China via the Power of Siberia gas pipeline will be ensured up to the maximum level of the contract (previously this was planned to be done in early 2025).” – Gazprom added.
Gas supplies through the Siberian Power have gradually increased as the Kovyktinskoye and Chayandinskoye fields have been developed. And if this year they will amount to 30 billion cubic meters annually, next year they will reach the contractual level of 38 billion cubic meters.
China has already become Gazprom’s largest destination, overtaking Europe in terms of supply volumes. From 2027, it is planned to launch a Far Eastern route to China from the Sakhalin fields. Supplies to China through it will amount to 10 billion cubic meters per year. Negotiations on Power of Siberia 2 are underway.
