Russia continues to affirm its position as a leading oil and gas supplier to China, with more than 100 billion cubic meters of gas transported via the Power of Siberia pipeline (Power of Siberia) since its operation in 2019.
Russian President Vladimir Putin said that another large-scale gas pipeline will start construction in 2027, expanding the influence of Russian energy in Asia.
In an interview with Xinhua News Agency on August 29, President Putin emphasized: Russia maintains its position as a leading oil and gas exporter to China. Since the Power of Siberia pipeline was put into operation, the volume of gas supplied has exceeded 100 billion m3. In 2027, we plan to inaugurate the next major gas pipeline, called the Far East pipeline. At the same time, the two countries also cooperate effectively in LNG projects in the Arctic region of Russia.
According to Russian gas giant Gazprom, in just the first 8 months of 2025, Russian gas exports to China increased by 28.3% compared to the same period last year. CEO Aleksey Miller affirmed that gas supply is still stable for both domestic and international customers.
The move comes as Russia focuses on energy exports to Asia, after the European Union (EU) sharply reduced imports of Russian oil and gas due to the Ukraine conflict and Western sanctions from 2022.
Russia currently supplies gas to Asia's largest economy via the Power of Siberia pipeline, part of a $400 billion 30-year deal signed in 2014 between Gazprom and the China National Oil and Gas Group (CNPC). By December 2024, the route will reach full capacity, making Russia the number 1 gas supplier to China.
According to Chinese customs data, in 2024, the country will import pipeline gas from Russia worth 7.355 billion USD, up 14.29% over the previous year; Russian LNG imports will also increase by 12.85%.
During their May visit to Russia, General Secretary and President Xi Jinping and President Putin agreed to accelerate the Power of Siberia 2 gas pipeline project, which is expected to double the capacity to export Russian gas to China to 50 billion cubic meters per year.
Observers say the opening of the Far East route and the acceleration of Power of Siberia 2 will turn China into a key gas market, replacing most of the European market.
Despite the embargo from the West, Russia-China trade relations continue to break out. In 2024, bilateral turnover reached a record of 245 billion USD. Kremlin spokesman Dmitry Peskov affirmed: "The special strategic partnership between Russia and China cannot be underestimated."
President Putin is expected to visit China next week, attend the Shanghai Cooperation Organization (SCO) Summit and hold high-level talks with Xi Jinping. The trip is expected to lay the foundation for a new chapter in Russia-China energy and trade cooperation.
