The cost of pipeline gas imports from Russia to China increased by 182% in ten months
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According to the results of ten months of the year, the cost of pipeline gas imports from Russia to China increased by 182% in annual terms, amounting to $3.1 billion. Over the same period, deliveries of liquefied natural gas (LNG) from Russia to China increased by 32%, to 4. 98 million tons. Oil supplies over this period increased by 9.5%, to 71.97 million tons. This was reported by TASS with reference to the Main Customs Administration of China.
Customs does not specify the volume of pipeline gas supplies. According to their data, Russia is in second place in terms of supplies of this type of gas.
In October, the volume of LNG imports from Russia to China amounted to 755.65 thousand tons, which is 7.12% less than in September. In just ten months of the year, LNG supplies amounted to 4.98 million tons worth $5.3 billion. In value terms, LNG supplies to China increased by 157%. Russia is in fourth place in terms of LNG supplies to China.
For ten months of the year, the volume of Russian oil supplies amounted to 71.97 million tons worth $49.19 billion. During this time, the cost of purchased oil increased by 53%, according to customs data. Russia is in second place in terms of oil supplies to China.
As Bloomberg reported, in September 2022, imports of Russian LNG in China increased by a third compared to last year, up to 819 thousand tons, which was a record. 18 November Deputy Prime Minister Alexander Novak announced signing of an intergovernmental agreement between Russia and China on the supply of Russian gas from the Far East. This will be the third supply agreement: the first was concluded in 2019, second — in February 2022.
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