China to boost imports of sanctioned Russian gas
Photo: The Russian Ministry of Energy announced the increase in cooperation with China (Getty Images)
Russian liquefied gas supplies to China under the Arctic LNG-2 project will increase, despite US sanctions, Reuters reports.
"We are making significant joint progress here. Therefore, the prospects for energy cooperation between Russia, India, and China are very good," Russian Energy Minister Sergei Tsivliev said in an interview with Russian media.
However, the official refused to answer questions about the cost of Russian gas for China, which will be supplied as part of the Power of Siberia-2 project, advising journalists to contact Gazprom or the Chinese company CNPS.
Export of sanctioned Russian gas
The US imposed sanctions on the Russian gas project Arctic LNG-2 during the presidency of Joe Biden due to Russia's full-scale invasion of Ukraine.
For a long time, Moscow could not find buyers for the blue fuel because it risked being subject to secondary sanctions.
However, on August 28, China began to cooperate with Russia - the first tanker not from the shadow fleet with a cargo of liquefied gas docked in China.
Later, it turned out that this case is not an isolated one. On September 6, it became known that the second tanker with Russian liquefied gas from the Arctic LNG-2 docked in the Celestial Empire, and as of the end of September, China received 7 ships with forbidden gas.
According to the Russian Ministry of Economy, in the next three years, the price of gas for China will be at least 27% lower than for Turkey and other customers in Europe. In 2025, the price gap will reach 38%.
In early September, Russia's Gazprom announced the signing of a memorandum on the construction of the Power of Siberia-2 gas pipeline to China via Mongolia.
China is one of the largest sponsors of Russia's war against Ukraine, as Beijing's purchases from Russia help the latter finance its army.
