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Gazprom’s YTD Natural Gas Exports to China Rose 37.4% y/y

NATGAS

Gazprom’s natural gas exports to China increased 37.4% y/y in the year to May 12, according to a Telegram statement.

  • April exports increased 57.1% y/y as daily flows to China have regularly exceeded contract levels this year.
  • The Power of Siberia pipeline to China is set to reach its nameplate capacity of 38bcm/year in 2025 after starting in 2019. Russia is seeking to boost pipeline gas sales to China to 100bcm a year by 2030 to replace export volumes previously sent to Europe.
  • Gazprom supplied a record 904.8mcm of gas to domestic consumers for the month on May 7 due to unseasonably cold weather. Daily flows were close to levels normally seen in winter.
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