LNG supplies from Russia to China hit a record in 2022
Last year, China increased its oil purchases from Russia by 8%, while liquefied natural gas (LNG) shipments reached a record. This was announced by the Ambassador of China to the Russian Federation Zhang Hanhui.
In an interview RIA News he noted that in 2022, China purchased 86.25 million tons of oil from the Russian side. The volume of LNG supplies from the Russian Federation, in turn, amounted to over 6.5 million tons. As for the annual volume of deliveries via the eastern branch of the Sino-Russian gas pipeline, it has reached a record high of 11.5 billion cubic meters, Hanhui said.
“Since the launch, the Yamal LNG project has been operating steadily, the implementation of the Arctic LNG-2 project has been proceeding at an accelerated pace. An intergovernmental agreement on gas supplies from Russia to China via the Far East gas pipeline was recently ratified, and the parties intend to immediately begin implementing this project “, the ambassador continued.
According to him, China’s energy market has huge potential. As the PRC economy sees further recovery in 2023, rising consumption and investment are driving up demand for energy.
Earlier it was reported that the export of Russian oil and condensate to China in January of this year reached the highest level from April 2020. The figure exceeded 1.5 million barrels per day.