Bloomberg: Russia will supply gas to China at a discount of up to 28% compared to Europe – April 24, 2024

In 2024–2027, Russia will supply gas to China at a price approximately 28% lower than the cost of Russian gas for Europe and Turkey. Bloomberg reported this on April 23 with reference to the basic forecast of the Ministry of Economy of the Russian Federation, which was at the disposal of the publication.

According to this forecast, in 2023 the price of Russian gas for China per 100 cubic meters was $286.9, for Europe and Turkey – $461.3. In 2024, for China the price is 257 dollars, for Europe and Turkey – 320.3. In 2025, the cost, respectively, should be 243.7 and 320.1 dollars, in 2026 – 233 and 320 dollars, and in 2027 – 227.8 and 315.4 dollars.

Thus, compared to Europe last year, China received gas at a price 37% cheaper, and the discount for China in 2024–2027 will range from 20 to 28%.

According to RBC, the volume of gas exports through the Power of Siberia gas pipeline, through which Russia supplies gas to China, amounted to 22.7 billion cubic meters in 2023, and the gas pipeline will reach full capacity by 2025.