 |
Louisiana Light • 2 days | 83.47 | +0.70 | +0.85% | ||
|
Bonny Light • 2 days | 84.38 | +0.37 | +0.44% | ||
|
Opec Basket • 2 days | 83.60 | +0.00 | +0.00% | ||
|
Mars US • 188 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 10 mins | 2.543 | +0.011 | +0.43% |
|
Bonny Light • 2 days | 84.38 | +0.37 | +0.44% | ||
|
Girassol • 2 days | 85.24 | +0.29 | +0.34% | ||
|
Opec Basket • 2 days | 83.60 | +0.00 | +0.00% |
|
Peace Sour • 13 hours | 72.19 | +0.61 | +0.85% | ||
|
Light Sour Blend • 13 hours | 75.24 | +0.61 | +0.82% | ||
|
Syncrude Sweet Premium • 13 hours | 82.19 | +0.61 | +0.75% | ||
|
Central Alberta • 13 hours | 72.59 | +0.61 | +0.85% |
|
Eagle Ford • 2 days | 75.47 | +0.61 | +0.81% | ||
|
Oklahoma Sweet • 2 days | 75.50 | +0.50 | +0.67% | ||
|
Kansas Common • 9 days | 69.25 | -3.00 | -4.15% | ||
|
Buena Vista • 4 days | 83.20 | +0.37 | +0.45% |
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Russia And China Look To Speed Up Development Of New Natural Gas Route
Russia’s gas giant Gazprom is working with China to further raise Russian pipeline deliveries to the Chinese market and is discussing speeding up the start of supply via the Far Eastern route, Xie Jun, vice president at China National Petroleum Corporation (CNPC), said at a gas forum in Russia on Wednesday.
“Our company and PJSC Gazprom are striving to build a closer energy partnership, and are systematically accelerating implementation of the gas supply project along the Far Eastern route,” Xie Jun said, as quoted by Russian news agency Interfax.
Currently, Russia supplies gas via pipeline to China through the Power of Siberia pipeline.
An agreement on Power of Siberia 2 has not been reached yet, due to some sticking points including the prices at which Gazprom will deliver the gas.
The Power of Siberia 2 pipeline is designed to ship gas from Russia’s Western Siberia Altai region to northeast China via Mongolia.
Russia could launch construction of the Mongolia section of the major natural gas pipeline to China as early as in the first quarter of 2024, according to Russian Deputy Prime Minister Viktoria Abramchenko.
The design for the Mongolian section of Power of Siberia 2, Soyuz Vostok, is expected to be approved in the first quarter of 2024 and construction could begin then, Deputy Prime Minister Abramchenko said last week, as quoted by Russian news agency TASS.
China has become a first-priority destination for the Russian state gas major Gazprom after the breakup with Europe.
The Power of Siberia was one of the biggest projects recently completed by Gazprom and the first conduit for Russian gas to China.
Earlier this year, Gazprom’s CEO Alexey Miller said that Russia could soon supply China with volumes of gas comparable with the volumes Moscow sent to Western Europe before the invasion of Ukraine.
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By Charles Kennedy for Oilprice.com
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For Russia, China has become a first priority destination for its gas exports after Western sanctions were imposed on Russian gas supplies to the EU and the sabotage of both Nord Stream 1 and Nord Stream 2. Moreover, Russia is working with China to further raise Russian pipeline deliveries to the Chinese market both via Spirit of Siberia 1 and eventually Spirit of Siberia 2 via Mongolia. According to Gazprom’s CEO Alexey Miller, Russia could soon supply China with volumes of gas comparable with the volumes Moscow sent to Western Europe before the Ukraine conflict.
Fir China, Russian gas and also oil supplies via pipes traversing the borders of the two countries and also via the Northern Sea Route (NSR) address important aspects of its energy security.
Dr Mamdouh G Salameh
International Oil Economist
Global Energy Expert