The European Union like China
According to Bloomberg calculations based on data on gas transit through Ukraine and TurkStream gas deliveries through pipelines to a few customers in Europe reached 14.6 billion m3 in the period from January to June this year. For comparison, in the first half of 2024 Chin 15.2 billion m3 flowed, according to data obtained from Chinese customs and from price estimates Russian Ministry of Economy.
Key recipients of Russian pipeline gas: Europe remains key for Gazprom, even after Russia cuts flows to the west
Russian Gas Sales in the EU / Bloomberg
Gas from Norway for the EU
After EU supported Ukraine in war started by RussiaMoscow has significantly reduced flows blue fuelUkrainian main roads to the West. The missing Russian gas replaced deliveries from, among others, Norwaywhich currently supplies 30 percent of this raw material to Europe.
Dependent on Russian gas
But some countries like Austria, Hungary Whether Slovakia are still dependent on supplies from Gazprom. Additionally, they increased by more than 26 percent in the first half of the year compared to the previous year, Bloomberg reported. About half of the above volume flows through Ukrainian main roads. Unfortunately, the 5-year contract expires at the end of December 2024. transit agreement Ukraine with Gazprom. Kyiv has repeatedly announced that it will not renew the agreement. Despite this, European officials are holding talks to maintain Russian gas flow through Ukraine.
Russia turns to China
Russia I have been trying to increase it for years gas sales to Chinabut in the foreseeable future Beijing will not even come close to the size of Gazprom’s European market before the invasion. Also average prices per m3 are much lower in the case of raw material export Power of Siberia gas pipeline.
Gas pipeline through Mongolia
Gazprom’s gas supplies to China via this pipeline are set to reach full annual capacity of 38 billion cubic meters in 2025, with another 10 billion cubic meters per year to be available via the so-called Far Eastern route from 2027. The Kremlin is still trying to sign a third agreement with China on gas pipeline through Mongoliabut so far Beijing is offering clear resistance.
