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Tuesday, March 28, 2023

Huge Rise in Russian Gas Supplies to China – Gazprom

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Russian gas supplies to China have shot up by almost 60% in the first four months of 2022 compared to the same period last year, Russian energy giant Gazprom announced on Sunday.

The deliveries are made through the Power of Siberia pipeline as part of the contract between Gazprom and China National Petroleum Corporation (CNPC), the company said.

When Russia launched its military operation against Ukraine in late February, Beijing refused to condemn Moscow or take part in the international sanctions, despite threats from Washington.

The energy standoff between Russia and the West has led to gas supplies to countries outside the former Soviet Union dropping by 26.9% since the start of the year. A total of 50.1 billion cubic meters have been delivered over the past four months.

Russian President Vladimir Putin ordered gas payments from “unfriendly countries,” which include the EU, to be made in rubles from March 31.

The measure was adopted after harsh sanctions were placed on Moscow amid the conflict in Ukraine.

The EU initially rejected Moscow’s new rules, calling them “blackmail,” but the European Commission recently said there could be ways to pay for Russian gas in rubles without violating the sanctions.

Some countries, however, have still refused to switch to rubles, causing Gazprom to cut off gas supplies to Poland and Bulgaria in late April.

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