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HomeNewsCommoditiesPutin says Russia now one of China's leading oil and gas suppliers

Putin says Russia now one of China’s leading oil and gas suppliers

MOSCOW (Reuters) – Russian President Vladimir Putin said on Friday that Russia had become one of China’s leading suppliers of oil and gas, with 13.8 billion cubic metres of gas shipped to China via the Power of Siberia pipeline in the first 11 months of 2022.

In remarks at the start of a video conference with Chinese President Xi Jinping, Putin said: “According to the results of this year, Russia has become one of the leaders in oil exports to China.”

Russia overtook Saudi Arabia as China’s top crude supplier last month.

Putin added that Russia was China’s second largest supplier of pipeline gas and fourth largest of liquefied natural gas (LNG). He said that in December, shipments had been 18% above daily contractual obligations.

Russian energy exports to China have risen markedly since Moscow sent its armed forces into Ukraine on Feb. 24, after which Western countries imposed unprecedented sanctions on Russia.

Deputy Prime Minister Alexander Novak said on Nov. 29 that Russia’s energy exports to China had increased in value by 64% this year, and by 10% in volume.

Source:reuters

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