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Post: Miller evaluated the prospects of Russian gas in the Asian market


A sign at the Gazprom pavilion. archive photo

Miller: Gazprom sees great prospects for Russian gas in Asian market

PETROPAVLOVSK-KAMCHATSKY, February 19 – RIA Novosti. Gazprom Chairman of the Board said that the Asian market is the most dynamic market in the world, and Gazprom sees great hopes for Russian gas. Alexey Miller.

In an interview with Russia 1 TV channel, Miller said, “We are all well aware that the Asian market is currently the most dynamic market in the world. Consumption volumes are increasing and we see very high expectations for Russian gas in this market.” Pavel Zarubin in the program “Moscow. Kremlin. Putin”.

In the last 30 years – since 1993 – gas consumption in the world has almost doubled. More than a third of the growth – 35% – was provided by the countries of the Asia-Pacific region. Global gas consumption is expected to continue to rise over the next 20 years, surpassing the 2022 level by about 20% by 2040. More than half of the growth will be provided by the Asia-Pacific countries, and China will be the main center of development.

Gazprom currently supplies gas to China through the Power of Siberia pipeline. At the end of 2022, its exports amounted to 15.4 billion cubic meters. As the project progresses, it is planned to increase the delivery volume annually until it reaches a design capacity of 38 billion cubic meters per year by 2025. The development of the “Chinese vector” is also connected with the route, which includes the construction of the Siberian Power 2 pipeline for 50 billion cubic meters per year through Mongolia. The project is being worked on.

In addition, the company signed a long-term contract with the China National Oil and Gas Corporation to export 10 billion cubic meters of gas per year via the Far East route in early February 2022. At the end of January this year, Russia and China signed an intergovernmental agreement on this route, the document has not yet been ratified.

Source: Ria

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