• 4 minutes THE GREAT OIL PRICE PREDICTION CHALLENGE OF 2018
  • 8 minutes Big Oil Costs Can't Go Much Lower
  • 12 minutes Regime For Regime: China Says Willing To Provide Venezuela With What Help It Can
  • 5 hours So oil touched $80! (WTI break $71 twice). What does the future hold?
  • 13 hours China Tariff Threatens U.S. LNG Boom
  • 2 hours Time For Reaction: Trump Presses OPEC to Reduce Prices as Crude Trades Near $80
  • 9 hours Blackouts in Australia
  • 6 hours Google And Facebook Lead Digital's March To Half Of The U.S. Ad Market
  • 5 hours So about that psychological oil price ceiling of $80 ... Trump's Twitter sledgehammer is right on cue, again
  • 19 hours Famous Musk's Tweet Puts Tesla Under Criminal Investigation
  • 8 hours Global Hunger Continues to Grow Driven By Climate Change
  • 1 day Is your name Philip? No? Too bad!
  • 1 day China’s Oil Futures Contract Is Beginning to Show Its Teeth
  • 23 hours WTI now at $70+ headed for $50s
  • 2 hours Qatar/Germany: 10 billion Euro Investment In Germany's Energy Sector
  • 2 hours Economic collapse? Iran's Khamenei Tells Rouhani, Ministers, To Solve Economic problems
Saudi Oil Inventories Continue To Plummet

Saudi Oil Inventories Continue To Plummet

Saudi Arabia’s crude oil inventories…

Oil Companies Slash Debt To Pre-Crash Levels

Oil Companies Slash Debt To Pre-Crash Levels

According to new research from…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Russia’s Huge Natural Gas Pipeline To China Nearly Complete

Power of Siberia

Gazprom’s Power of Siberia natural gas pipeline from Russia to China is 93 percent complete, the Russian gas giant said in an update on its major projects.

A total of 2,010 kilometers (1,249 miles) of pipes are laid for the Power of Siberia gas pipeline between Yakutia and the Russian-Chinese border, or on 93 percent of the route’s length, Gazprom said in a statement.

The natural gas pipeline is expected to start sending gas to China at the end of 2019 and its completion is among Gazprom’s top priorities.

The two-string submerged crossing of the Power of Siberia pipeline under the Amur River is 78 percent complete, and the Atamanskaya compressor station adjacent to the border is also under construction, the Russian company says.

Gazprom has a 30-year contract with CNPC for the supply of an annual 1.3 trillion cu ft of natural gas via the infrastructure.

This year, Gazprom plans to invest nearly US$3.2 billion (218 billion Russian rubles) in the pipeline project, up from the US$2.3 billion (158.8 billion rubles) investment last year, according to Russia’s TASS news agency.

Gazprom and CNPC have also discussed another pipeline from Russia to China via the western route—the so-called Power of Siberia 2 pipeline—that would source gas from Western Siberian gas fields, but little progress has been made regarding the specifics of this project.

Gazprom is dominating gas supplies to many European markets while it vies to meet the surging Chinese natural gas demand as the country is in the middle of a massive switch from coal-fired to gas-fired heating in millions of homes.

Although Chinese companies are looking to boost domestic natural gas production, local production won’t come even close to meeting surging demand, and China is expected to increasingly rely on gas imports.

According to the Gas 2018 report by the International Energy Agency (IEA), China will become the world’s largest natural gas importer by 2019. The share of imports in China’s natural gas supply is seen rising from 39 percent to 45 percent by 2023, the Paris-based agency forecasts.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Case123 on September 15 2018 said:
    China is paying all the oil and gas suppliers on time and even advancing some payments, for future delivery, to help some not-so-rich 3rd world suppliers of Africa and South America.
  • Franco on September 08 2018 said:
    Quite amazing! They've already started talking about Power of Siberia 2 and Nord Stream 3. And China has $3 trillion in foreign currency reserves . You can't stop trade.

    Well you can hinder it I suppose. For example, in less than two months, the Democrats in America with an overwhelming majority of African Americans, Hispanics, Jews and Muslims voting for them, will have a majority both in the Senate and in the House. And they want to impeach the President. One can imagine the scenario.
  • Alex on September 07 2018 said:
    Russia is a starving third world socialist catastrophe. China's banks are bankrupt. China and Russia are a match made in hell. There is no way China can pay for the gas.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News