Gas prices for China will be 28% lower than for Russia’s other European customers, at least until 2027.
Russia will supply gas to China 28% cheaper than European consumers until 2027. Bloomberg reported this in connection with the forecast of the Ministry of Economic Development of the Russian Federation.
Gas prices for the Asian country are expected to be 28% lower than for Russia’s European customers until at least 2027, according to an economic forecast prepared by the Ministry of Economy.
The forecast indicates that due to financial constraints amid confrontation with the West, Moscow will intensify efforts aimed at building energy ties with China. Even before the full onslaught, Russian gas giant Gazprom said it viewed China as a promising market, expecting demand to decline in European markets before the end of the decade.
This year, the ministry forecasts the value of gas exports to China at $257 per 1,000 cubic meters, compared to $320.30 for flows to Western markets under its base case scenario.
From 2025 to 2027, the price for China will gradually decrease, while the value of western supplies is expected to remain roughly the same.
Let’s recall that Russia’s revenues from oil and gas sales in April almost doubled year-on-year and will reach $14 billion due to price increases.
Source: korrespondent
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