Russia's Gazprom is increasing gas supplies to China and expects soon to reach the maximum planned level through a Siberian pipeline, its chairman said Wednesday, highlighting Beijing's importance as his country's top export market in the face of Western sanctions over its invasion of Ukraine.
Gazprom is negotiating with China over a possible additional supply project across neighboring Mongolia, Viktor Zubkov said at a government-organized economic forum. He said the company is open to serving other Asian markets.
China's imports from Russia, mostly oil and gas, surged 31.3% over a year ago in January and February to $18.6 billion. That helps President Vladimir Putin offset lost revenue after the United States, Europe and Japan blocked or limited imports. Gazprom is negotiating with state-owned China National Petroleum Corp. on a gas supply project through Mongolia that is designed to carry 50 billion cubic meters , according to Zubkov.Also at the forum, the deputy chairman of the Chinese Cabinet's planning agency said Beijing will balance its plans to reduce carbon emissions with its need for energy security. China is the biggest emitter of climate-changing industrial gases.
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