Gazprom, the energy major of Russia, has announced that it set a new record for daily gas deliveries to China through the Power of Siberia mega pipeline on Monday. This achievement demonstrates Gazprom’s ability to exceed its daily contractual obligations and meet the increasing demand for natural gas from its main trading partner, China.
The Power of Siberia pipeline is a significant part of the $400 billion, 30-year agreement between Gazprom and the China National Petroleum Corporation (CNPC), which was signed in 2014. Under this agreement, Russia supplies natural gas to China, and the Power of Siberia pipeline serves as the primary channel for delivering the gas. It is referred to as the Eastern Route and was partially launched in December 2019, making it the first pipeline to supply Russian gas to China.
The latest record-breaking gas deliveries further strengthen the energy cooperation between Russia and China. Last year, Russia exported 15.5 billion cubic meters of gas to China through the Power of Siberia. According to Deputy Prime Minister Alexander Novak, this volume is expected to increase to 22 billion cubic meters in 2023, reflecting the continuing efforts to enhance energy cooperation between the two countries.
Gazprom’s ability to exceed its contractual obligations and deliver requested volumes of gas demonstrates its commitment to meeting the energy needs of its trading partners. The company’s statement on its Telegram channel highlighted the achievement, stating, “Gazprom delivered all requested volumes and set a new historical record of daily gas supplies to China.” This achievement further solidifies Gazprom’s position as a reliable supplier of natural gas to China.
The Power of Siberia pipeline plays a crucial role in ensuring a stable and secure supply of energy for China. As China continues to experience rapid economic growth, the demand for natural gas is expected to increase. The Power of Siberia pipeline not only provides a reliable source of gas for China but also contributes to the diversification of its energy sources.
The record-breaking gas deliveries highlight the success of the long-term partnership between Gazprom and CNPC. The $400 billion agreement between the two companies has created a mutually beneficial relationship, with Russia benefiting from the export of its natural gas, and China securing a stable and consistent supply of energy.
In conclusion, Gazprom’s achievement of setting a new record for daily gas deliveries to China through the Power of Siberia pipeline reflects the company’s commitment to exceeding its contractual obligations. This accomplishment demonstrates the successful energy cooperation between Russia and China and contributes to the stability and security of energy supply for China. As the demand for natural gas continues to grow in China, the Power of Siberia pipeline will play a crucial role in meeting this increasing demand and further strengthening the partnership between Gazprom and CNPC.