A Trilateral Gas Union: Risks and Benefits for Central Asia

chinese power | Economy | east asian

China’s imports from Russia, mainly oil and gas, rose 31.3 percent from a year earlier in January and February to $18.6 billion.

Russia’s Gazprom is ramping up gas supplies to China and expects to reach the planned peak level soon via a Siberian pipeline, its chairman said on Wednesday, highlighting the importance of Beijing as his country’s top export market in the face of sanctions. Westerners for their invasion of Ukraine.

Gazprom is negotiating with China over a possible additional supply project in neighboring Mongolia, Viktor Zubkov told a government-organized economic forum. He said the company is open to serving other Asian markets.

Chinese leader Xi Jinping’s government views Moscow as a diplomatic partner that opposes US domination of global affairs and has refused to criticize its invasion of Ukraine. Beijing has called for a ceasefire and negotiations, but not for a Russian withdrawal.

China’s imports from Russia, mainly oil and gas, rose 31.3 percent from a year earlier in January and February to $18.6 billion. That helps President Vladimir Putin make up for lost revenue after the United States, Europe and Japan blocked or limited imports.

“Russia is increasing its gas supply to China,” Zubkov said at the Boao Forum for Asia. “Gas supply through the Power of Siberia pipeline will soon reach the contracted annual volume of 38 billion cubic meters,” or 1.3 trillion cubic feet.

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Gazprom is negotiating with state-owned China National Petroleum Corp. over a gas supply project through Mongolia that is designed to transport 50 billion cubic meters (1.8 trillion cubic feet), according to Zubkov.

“Russia is open to cooperation with other Asian countries in providing clean energy,” Zubkov said.

Also at the forum, the vice president of China’s cabinet planning agency said Beijing will balance its plans to cut carbon emissions with its need for energy security. China is the largest emitter of climate-changing industrial gases.

The ruling Communist Party stepped up coal mining and the construction of coal-fired generating stations after power shortages in late 2021 led to blackouts and forced factories in some areas to close temporarily. Xi said in 2020 that carbon emissions would peak in 2030, but he did not announce a target level.

“We will actively and prudently promote peak carbon and carbon neutrality,” said Zhao Chenxin of the National Development and Reform Commission. “However, we must balance their relationships with energy security and development.”

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