Russia intends to increase gas exports to China to this size! by Arab Trader

Russia intends to increase gas exports to China to this size! by Arab Trader
Russia intends to increase gas exports to China to this size! by Arab Trader
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© Reuters. Russia intends to increase gas exports to China to this size!

Arabictrader.com – According to the local news agency RIA, the Russian company Gazprom will increase gas exports to China in the coming years, through the Power of Siberia pipeline.

Meanwhile, Gazprom experts estimated that the volume of gas exports from Russia to China will rise by more than 40%, to reach 23 billion cubic meters in 2023.

Also, Gazprom experts explained that Moscow is seeking to develop the Power of Siberia 2 pipeline and its transportation capacity is likely to reach 50 billion cubic meters per year.

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Similarly, these estimates came after Russian gas shipments to Europe declined in the previous year, due to the repercussions of the Russian-Ukrainian war, as the Nord Stream pipeline stopped, while exports through the Yamal Europe pipeline decreased by about three times.

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It should be noted that the Russian company Gazprom announced earlier this month that its gas production declined by 20% during 2022, and the volume of gas production amounted to about 412.6 billion cubic meters during that period.

The company’s president, Alexei Miller, explained that Gazprom’s gas exports to non-CIS countries rose to 100.9 billion cubic meters at the end of the year, and also; It was mentioned that the volume of gas needs to China exceeded the quantities of daily paper contracts contracted on last year.

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