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Russia’s gas supplies via Power of Siberia to China up by 35 yoy in 1H 2024 — IEA

In early May, Gazprom reported that since the beginning of 2024 it had significantly increased gas supplies to China via the Power of Siberia, exceeding the volumes for the same period last year by 37.4%

MOSCOW, July 16. /TASS/. Supplies of Russian piped gas to China via the Power of Siberia pipeline increased by 35% year-on-year in the first half of 2024, according to a report by the International Energy Agency (IEA) on the gas market.

"Russia’s piped gas exports to China via Power of Siberia grew by an estimated 35% y-o-y in H1 2024, with total deliveries for the full year expected to reach over 30 bcm," the report says.

In early May, Gazprom reported that since the beginning of 2024 it had significantly increased gas supplies to China via the Power of Siberia, exceeding the volumes for the same period last year by 37.4%.

In 2023, Gazprom increased gas supplies to China via the Power of Siberia by 1.5 times, to 22.7 billion cubic meters, which is 700 million cubic meters above contractual obligations.

Power of Siberia is the largest gas transportation system in eastern Russia. Its export capacity of 38 bln cubic meters of gas per year is expected to be reached in 2025. Moreover, in the coming years, the total volume of Gazprom exports to China is expected to reach 48 bln cubic meters of gas per year (due to the implementation of a project for gas supplies to China via the Far Eastern route), and taking into account the transit gas pipeline through Mongolia - almost 100 bln cubic meters per year, Gazprom CEO Alexey Miller said earlier.

Miller later said that China was considering the possibility of increasing Russian gas supplies through the Power of Siberia beyond the design capacity of 38 bln cubic meters and that such an agreement could be reached in the near future.