Russian Gas Supply To China Via Gas Pipe Reaches New Record

The Power of Siberia (doc: bne IntelliNews)

Russia's daily gas supply to China via the Power of Siberia pipeline hit a new record on December 23. Not only that, the demand for gas supply for Beijing has been increased.

This was conveyed by a spokesman for the Russian energy giant Gazprom, the Russian energy giant Gazprom said.

"On December 23, Gazprom set a new historical record for daily gas supplies to China. Demand for Chinese gas supply through the Power of Siberia gas pipeline once again exceeds daily contract obligations. Gazprom supplies all requested volume," the company said via Telegram.

The supply was carried out under a long-term gas purchase and sale agreement between Gazprom and China National Petroleum Corporation (CNPC).

The Power of Siberia is the main gas pipeline from Russia to China, with a length of about 3,000 km (1,864 miles). Gas supply volume reaches 15.4 billion cubic meters of gas by 2022, and is expected to continue to increase until the pipeline reaches its annual capacity target of 38 billion cubic meters by 2025.

Russia and China are also negotiating the construction of the Power of Siberia 2 pipeline, which is capable of distributing 50 billion cubic meters per year to China via Mongolia.

Trade between Moscow and Beijing skyrocketed amid a western sanctions campaign targeting Russian fuel exports. But the sanctions dealt a major blow to Europe and exacerbated the global energy crisis, while Russia managed to diversify its export market.