China Is Overtaking Europe as Top Market for Russia’s Pipeline Gas
- Gazprom flows to China at 23.7bcm in Jan.-Sept.: calculations
- China volume is still well below pre-war sales to Europe
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China is on track to become the largest market for Russia’s pipeline gas this year, overtaking Europe after the Kremlin’s war against Ukraine capped flows of the fuel to the region.
Russia’s gas giant Gazprom PJSC exported 23.7 billion cubic meters of natural gas to China in the first nine months of the year, or almost 40% above volumes exported the same period a year ago, according to Bloomberg calculations based on the Asian country’s customs data and price estimates from the Russian economy ministry.