Gazprom will increase gas supplies to China via Power of Siberia to maximum ahead of schedule – Economy & Finance

MOSCOW, September 20. /TASS/. Gazprom and the Chinese company CNPC have agreed to maximize Russian gas supplies to China via the “Power of Siberia” pipeline ahead of schedule – namely from December 2024 instead of early 2025, the Russian holding company said in a statement.

Gazprom CEO Alexey Miller and CNPC Chairman Dai Houliang held a working meeting in Beijing on Friday.

“At the meeting, an additional agreement to the gas purchase agreement on the Eastern route was signed. In accordance with the request of the Chinese partners, the parties agreed on additional deliveries in December 2024. This will ensure an early increase in daily gas supplies to China via the Power of Siberia gas pipeline to the maximum contractual level,” the statement said.

Gazprom planned to bring Power of Siberia to its designed capacity of 38 billion cubic meters of gas from January 1, 2025. In 2023, the holding increased gas supplies to China via the gas pipeline by 1.5 times to 22.7 billion cubic meters, and by the end of the current year they may reach 30 billion cubic meters, Russian Deputy Prime Minister Alexander Novak said earlier. Gazprom ensures reliable supplies via the Power of Siberia gas pipeline and regularly exceeds daily contractual obligations, the company stresses. Construction work on the “Far Eastern” route is also proceeding according to plan, with deliveries scheduled to begin in January 2027.

Power of Siberia is the largest gas transportation system in eastern Russia. Gazprom’s total exports to China in the coming years will reach 48 billion cubic meters of gas per year (due to the implementation of the project for gas supplies to China via the Far Eastern route) and almost 100 billion cubic meters per year if we take into account the transit gas pipeline through Mongolia, Gazprom CEO Alexey Miller said earlier. Miller later said China was considering the possibility of increasing Russian gas supplies through Power of Siberia beyond the planned capacity of 38 billion cubic meters.