President Vladimir Putin on Thursday hailed an “unprecedented” level of energy cooperation between Russia and China, at a time when Moscow wants to strengthen its partnerships in Asia to compensate for the loss of a large share of the European market.
“The relations of comprehensive partnership and strategic cooperation between Russia and China have reached an unprecedented level,” he rejoiced in a message posted on the Kremlin’s website to participants at a Russia-China energy forum in Beijing. According to figures communicated by the head of the oil giant Rosneft, Igor Sechine, during this forum, energy represents “more than 75% of Russian exports to China.”
Heavily sanctioned by the West, particularly for its oil, on which the G7, the EU and Australia have imposed a price ceiling, Russia is trying to redirect its deliveries to Asia, even if it means selling certain products at a discount. China today represents Moscow’s main energy partner, after the Europeans almost completely closed its gas market following sanctions and the sabotage of the Nord Stream gas pipelines in the Baltic Sea in September 2022.
Record gas exports
For natural gas exports, Russia faces significant costs and delays in building infrastructure to develop new partnerships. Despite everything, “Russian gas exports to China will reach a new historical record this year: more than 30 billion cubic meters of gas will be supplied”, thanks to the launch of the “Siberian Force” gas pipeline, Igor assured. Sechin. .
Currently, Russian gas is supplied to Beijing through this infrastructure located in the Russian Far East and Moscow hopes to sign before the end of the year the construction of another gigantic gas pipeline between the two countries, the “Siberian Force 2”, which should pass through the steppes of Mongolia. By 2030, “Siberian Force 2” should allow Russia to increase its exports to its Chinese neighbor to almost 100 billion cubic meters of gas per year.
Source: BFM TV
