Russian LNG exports to China rise by two thirds in Q1

Russian LNG supplies to China rose by more than two thirds in the first quarter of this year to 1.62mn metric tons, according to Chinese customs data released on April 21.

In value terms, imports climbed by 80.8%, the General Administration of Customs of China reported, to $1.32bn, reflecting higher gas prices over the period.

March volumes were up 2% month on month at 602,500 mt., but were down 15.5% in value terms.

Russian pipeline gas exports to China through the Power of Siberia pipeline meanwhile more than doubled in the first quarter in value terms to $1.76bn, according to the customs data, although volumes were not disclosed. Power of Siberia exports increased 1.5-fold in 2022 to 15.5bn m3, however, according to Russian estimates. Moscow has forecasted that volumes should reach a peak of 38bn m3/yr in 2027.