Russia’s Gazprom is set to supply more gas to Hungary and China this winter, according to CEO Alexei Miller. This comes after Gazprom announced plans to expand its gas export infrastructure to China.
The announcement comes during the Belt and Road summit in China, where Hungary’s Prime Minister Victor Orbán met with Russia’s Vladimir Putin to discuss bilateral ties. Hungary is the only EU member maintaining friendly relations with Moscow, which has been criticised by other member states – though France, Belgium and Germany exceed Hungarian imports from Russia. China has become Gazprom’s biggest gas client, thanks to the Power of Siberia pipeline, which entered operation in late 2019. The pipeline is expected to reach its full capacity of 38 billion cubic meters in 2025, as part of a 30-year contract worth over $400 billion. Gazprom has accounted for over half of the growth in Chinese natural gas imports since the start of the year. Last year, Gazprom shipped 15 billion cubic meters East via the Siberian route. This year, it will send some 22 billion cubic meters of gas to northern China, plus some additional volumes that Gazprom agreed with CNPC during the Belt and Road summit.
