China continues to exploit Russian weaknesses in gas export as the country is set to receive heavily discounted petrol from Russia’s state energy company – despite higher gas prices and Gazprom’s loss-making nature, Reuters reported on Sept. 8.
Russia will discount gas to the Chinese market to 46% in 2024, Reuters said.
Gas from the Power of Siberia pipeline will cost $271.6 per 1,000 cubic meters, while the same gas goes for $481.7 per 1,000 cubic meters when sold to Turkey or Europe.
In a sign of its reliance on the Chinese market, Gazprom plans to increase the amount of gas it pumps to China – despite its unprofitability.
The volume of supplies is expected to increase to 30 billion cubic meters in 2024. That’s up from 22 billion cubic meters in 2023.
Gazprom has been operating at a loss throughout 2023, according to recently released financial reports.
Russia sees maintaining energy sales to China as strategically important given limited export alternatives. The country has been offering discounted fuel to its eastern neighbor since Russia first invaded Ukraine in 2014.
China has since become the primary importer of Russian oil.
Will you support Ukraine’s free press?
Dear reader, as all news organizations, we must balance the pressures of delivering timely, accurate, and relevant stories with requirements to fund our business operations.
As a Ukrainian-based media, we also have another responsibility – to amplify Ukraine’s voice to the world during the crucial moment of its existence as a political nation.
It’s the support of our readers that lets us continue doing our job. We keep our essential reporting free because we believe in our ultimate purpose: an independent, democratic Ukraine.
If you’re willing to support Ukraine, consider subscribing to our Patreon starting from 5$ per month. We are immensely grateful.
Please help us continue fighting Russian propaganda.
Truth can be hard to tell from fiction these days. Every viewpoint has its audience of backers and supporters, no matter how absurd.
If conscious disinformation is reinforced by state propaganda apparatus and budget, its outcomes may become deadly.
There is no solution to this, other than independent, honest, and accurate reporting.
We remain committed to empowering the Ukrainian voice to push against the muck. If you’re willing to stand up for the truth – consider supporting us on Patreon starting from 5$ per month. Thank you very much.
Will you help tell Ukraine’s story to the world?
Twenty years ago, most people hadn’t even heard of Ukraine. Today, the country is on everyone’s lips and everyone’s headlines. War pushed us on the front page. But there are many other things we do that we are proud of – from music and culture to technology.
We need your help to tell the world Ukrainian story of resilience, joy, and survival. If you’re willing to back our effort, consider supporting us on Patreon starting from 5$ per month. We are immensely grateful.