Russian gas shipments to China hit new daily record

RUSSIAN energy giant Gazprom has announced a new daily record for the amount of gas supplied to China as Vladimir Putin, the Russian president, continues attempts to prop up his war economy.

The Kremlin-backed company did not put an exact figure on the daily amount supplied, but the announcement marks the latest ramp-up in deliveries to China.

The news comes comes as Putin seeks to shore up the Russian economy after the country lost access to most European markets after the invasion of Ukraine.

Over the course of last year, Gazprom said that it exported 22.7bn cubic metres (bcm) of gas to China through the Power of Siberia pipeline, which was much greater than the 15.4bcm delivered in 2022.

It is also planning further increases in anticipation of the pipeline reaching its full capacity of 38bcm by the end of 2025. This is alongside talks about building a new pipeline to carry another 50bcm of natural gas a year from the northern Yamal region to China via Mongolia.

The proposed pipeline would carry almost as much as the now idle Nord Stream 1 pipeline under the Baltic Sea – which was damaged by explosions in 2022. Gazprom stressed the importance of its growing trade ties with China in a statement yesterday: “China is Gazprom’s main strategic partner in Asia and the driver of gas demand growth in the region.”

Russia boasts the world’s largest proven reserves of gas with about 37 trillion cubic metres, accounting for nearly one-fifth of global reserves.

Global annual gas consumption is around four trillion bcm a year. Before the conflict in Ukraine, Russia supplied around 4pc of the UK’S gas supplies, and around 25pc of its diesel.

Those energy imports were halted after the invasion of Ukraine but the latest UK government figures show that trade in other goods continues.

Exports to Russia from the UK, mostly of medical drugs, alcoholic drinks and tobacco, amounted to £1.8bn for the year to June 2023.

Imports from Russia, included ships, coal and fish, and amounted to £853m for the same period.

‘China is Gazprom’s main partner in Asia and the driver of gas demand growth in the region’