Given that Western sanctions have devastated Moscow’s dominance on European energy markets, Russia is driven to foster stronger energy relationships with China.
Projected prices for China are set to lower gradually from 2025 to 2027, while the costs of supply via Western routes are expected to hold steady.
The report notes that as discussions continue about connecting the Power of Siberia 2 pipeline to the Chinese network, Gazprom could increase its supply of natural gas to China to 98 billion cubic meters annually.
Read also: Ukraine won't renew gas transit contract with Russia
At the same time, even if Russia's pipeline expansion goes as planned and reaches full operational capacity, the combined output would still transport only around half the volume of gas previously delivered to Europe prior to the war against Ukraine.
As of February 2024, Gazprom eclipsed Turkmenistan as China's foremost pipeline gas provider.
Earlier reports indicated that in 2024, Gazprom's gas supplies to China via the Power of Siberia pipeline have increased by 50%.
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Read the original article on The New Voice of Ukraine
Section: Nation
Author: Eric Malinowski
