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Kazakhstan Signs New Gas Supply Contract with China

NATURAL GAS

Kazakh state energy company QazaqGaz has agreed a new gas supply deal with China’s PetroChina, according to Reuters, citing the office of Kazakh President Tokayev.

  • The details have not been disclosed but are likely to cover supply between 2023-2026. It is likely an extension of the existing contract.
  • China imported an average of 4.5m mtpa of gas from Kazakhstan between 2018-2022, according to Reuters, around 1.2% of Chinese annual gas consumption based on 2022 levels.
  • Kazakh flows to China had been falling amid lower Chinese demand and rising Kazakh domestic consumption. However, the commencement of Russian gas exports via Kazakhstan has freed up further volumes to send abroad.
Energy BulletsCommodities
Energy BulletsCommodities

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