Bloomberg: The price of gas from Russia to China will be reduced by 28% in the coming years

The price of Russian gas for China will be reduced by 28% compared to the value of supplies to European countries, Bloomberg reported, citing the macro forecast of the Ministry of Economy of the Russian Federation. According to the agency, the discount is planned to be maintained at least until 2027.
According to the ministry's forecast, quoted by Bloomberg, in 2024 the export price of Russian gas to China will be $257 per 1,000 cubic meters, and for the markets of Europe and Turkey - $320.30. In 2025, prices will be $243.7 and $320.1, in 2026 - $233 and $320, and in 2027 - $227.8 and $315.4. The percentage difference in subsequent years does not exceed 28%.
According to data from the Chinese Customs Administration, for the period January-March 2024, China imported 1.648 million tons of Russian liquefied natural gas. Compared to the first three months of 2023, the figure increased by 2%. At the same time, in terms of value, deliveries decreased by 19.7% and amounted to 1.06 billion dollars.
Meanwhile, in February Gazprom became the largest supplier of piped gas to China, exporting 2.5 billion cubic meters. From the beginning of 2024, another increase in supplies through the Power of Siberia gas pipeline is planned./BGNES