Page 11 - FSUOGM Week 03 2023

FSUOGM PIPELINES & TRANSPORT FSUOGM

Russian gas to China via Power of Siberia

up 1.5-fold in 2022

RUSSIA RUSSIAN gas supplies to China via the Power of achieved in 2027.
Siberia pipeline increased 1.5-fold year on year The main resource base for the pipeline is the
Supplies reached a in 2022 to a record 15.5bn cubic metres, Vedo- Chayandinskoye field in Yakutia (gas reserves of
record 15.5 bcm in mosti daily reported citing the estimates of the 1.2 trillion cubic metres) and the Kovyktinskoye
2022. Deputy Prime Minister and ex-Energy Minister, field in the Irkutsk Region (1.8 tcm) of Gazprom.
Alexander Novak. Analysts polled by Vedomosti expect a sig-
As followed by bne IntelliNews, Gazprom nificant increase in gas deliveries through the
and Chinese CNPC are working to expand their Power of Siberia in 2023, possibly exceeding
business as Russia attempts to switch its gas 20-22 bcm.
export business from West to East. Gazprom's On January 4 Gazprom reported that this
total exports to China will reach 48 bcm of gas year the company reached "a fundamentally new
per year in the coming years, although no firm level of daily deliveries stipulated in the contract
deadline was mentioned. for 2023", without providing exact numbers.
The Power of Siberia pipeline supplies Rus- To remind, the Power of Siberia 2 pipeline
sian gas to China under a long-term agreement from Russia to China with an annual capacity of
between Gazprom and CNPC, which was signed up to 50 bcm is planned to pass through Mon-
in 2014. The projected capacity of the pipeline is golia. The resource base for the project could
38 bcm annually, which is planned to be reached be Gazprom's gas fields in the Yamal Peninsula,
gradually after 2024. In October 2022, Novak Kovyktinskoye field in the Irkutsk Region and
forecasted that the projected throughout will be the resources of the Krasnoyarsk Territory. ™

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