Gazprom's supplies to China have bypassed European ones

In the first half of 2024, Russian pipeline gas supplies to China exceeded Gazprom's exports to Europe.

In January-June, Gazprom supplied more pipeline gas to China than to Europe. Bloomberg cites data that 15.2 billion cubic meters were supplied to the Power of Siberia, and 14.6 billion cubic meters to Europe.

There is a decrease in Europe — almost five times compared to supplies before ITS on Ukraine and the imposition of sanctions and counter-sanctions. At the same time, exports to China are only growing. Last year, it amounted to 22.7 billion cubic meters, and this year it is planned to reach 30 billion cubic meters. In 2025, supplies from the Power of Siberia are expected to grow to the contracted 38 billion cubic meters per year.

In a few years, the Far Eastern route and an additional 10 billion cubic meters per year should be added to them. That's all for now. Negotiations on the Power of Siberia — 2 with a capacity of 50 billion cubic meters have not yet brought concrete results.

The European Union, in turn, plans to abandon Russian gas in 2027. But it is not yet known whether it will be able to. Pipeline gas and LNG supplies from Russia accounts for 15% of EU imports. And this year Gazprom has only been increasing supplies.

From 2025, the contract for gas transit through Ukraine will expire, and in Kiev declares its unwillingness to extend it, but is ready to meet the needs of the EU. According to Bloomberg, EU officials continue to negotiate. And one of the options, as previously reported by EADaily, is to involve Turkey and Azerbaijan. Brussels offers Ankara to resell Azerbaijani gas and buy more Russian gas in return. Turkey requires long-term guarantees, said the country's energy minister Alparslan Bayraktar.

Gazprom still has Central Asia as an additional destination for redirecting European volumes. Supplies to Uzbekistan are expected to grow from 3 billion cubic meters to 12 billion cubic meters and gasification of the north of Kazakhstan with a transit gas pipeline to China is being considered.

There is also Iran. The country's oil minister Javad Oudji said in Tehran that Gazprom plans to build a gas pipeline to the country and run it all the way to the south. The capacity is equivalent to two Nord Streams — 109 billion cubic meters per year. However, experts are afraid to make estimates, as we may be talking about potential deals with Iran's neighbors. For example, Pakistan and India.