Gazprom Boosts Power of Siberia Gas Supplies to China by 35%

Gazprom has boosted gas supplies to China via the Power of Siberia pipeline to 100 billion cubic meters, according to Alexei Miller, Gazprom’s CEO. Miller said, “The first 100 billion cubic meters of Russian gas out of over one trillion envisaged under the industry’s largest gas contract ever have been supplied to China via the Power of Siberia gas pipeline. This is only the beginning of a long journey. The contract is valid until mid-2049. Russian gas supplies to China will begin via the Power of Siberia 2 route in 2027.”

Gazprom launched supplies via the Power of Siberia pipeline in 2019 under a long-term agreement between Gazprom and China National Petroleum Corporation (CNPC), and supplies have been exceeding annual contractual obligations every year since 2020.

Gazprom upped daily supplies via the gas pipeline to the maximum contract level on December 1, 2024, a month ahead of the original deadline, upon the request of the Chinese partners, since when three all-time daily high export records to China via Power of Siberia have already been set.

Gazprom increased pipeline supplies over 35% to cover around a quarter of China’s additional demand for gas in 2024. After going into the red during 2023 after its supply routes to Europe were largely terminated, the company returned to the black last year after rerouting supplies to Asia.