“Gazprom” plans for increased expansion in the Chinese market. So, the monopoly, with the end of 2019, who supply gas to China through the pipeline “Power of Siberia”, is negotiating to increase the supply of 6 billion cubic meters to 44 billion cubic meters of gas a year, said the head of “Gazprom” Alexey Miller. The company also intends to organize gas supplies from the Far East, to build “Power of Siberia-2” and “Western route” through the Altai, bringing the volume to 130 billion cubic meters per year.”Gazprom” is discussing with China the possibility of increasing gas supplies via the “Power of Siberia” by 6 billion cubic meters to 44 billion cubic meters a year, said the head of monopoly Alexey Miller at the annual General meeting of shareholders held on 26 June. He noted that Chinese demand in gas will grow rapidly. “At the end of last year, gas consumption in China increased by nearly 10% and exceeded 300 billion cubic meters. After 15 years, gas demand in the country is expected to double,”— said Mr. Miller.Taking into account the work on new routes of gas supplies to China — far East (about 10 billion cubic meters), “the Power of Siberia-2”, which presumably pass through the territory of Mongolia (50 billion cubic meters per year) and the Western Altai route (directly from Russia to the Western part of China 30 billion cubic meters), Gazprom “in the foreseeable future” intends to export to China more than 130 billion cubic meters of gas a year, said Alexey Miller. Still, the transit route through Mongolia was considered an alternative to more complex technically, but a shorter route through the Altai. But in the words of Mr. Miller, that “Gazprom” from this option is not abandoned.Thus, according to the head of the Russian monopoly, Gazprom has a “greater margin” than competitors in the European gas market is in deep crisis since the beginning of the year. This, according to him, is provided by a rich resource base, balanced trading portfolio, flexible terms of delivery and modern tools of the trade. Liquidity in the group of Alexey Miller, valued at more than $22 billion At the same time, China is among the three largest importers of LNG. According to IEA, the world trade volume of LNG in 2025 will reach 585 billion cubic meters, of which 128 billion cubic meters will be imported by China due to the increase of regasification capacity. According to the International group of LNG importers (GIIGNL), the total volume of LNG imports to China in 2019 increased by 14% to 61.7 million tonnes (17.4% of world imports).Tatiana Woodpecker
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