Moscow could double deliveries to its Asian neighbor by the 2030s, shutting out US exports, Bloomberg has warned<\/p>\n
Russia\u2019s announcement this week of expanded pipeline gas exports to China could shake the global liquefied natural gas (LNG) market and squeeze out US suppliers, Bloomberg reported on Wednesday.
\nDuring his visit to China, Russian President Vladimir Putin confirmed that Moscow and Beijing had reached consensus on a major new pipeline across Mongolia, which would significantly boost existing supplies.
\nAlthough Chinese officials did not immediately comment, Bloomberg noted that \u201cthe ties binding Russia to its most important consumer have undoubtedly tightened.\u201d The proposed Power of Siberia 2 pipeline could be operational by 2030. Combined with other supply increases, Russia could displace up to half of the more than 40 million tons of LNG China currently imports each year, including from the US, Bloomberg estimated.
\n\u201dGiven that China is the largest importer of LNG, this would turn the LNG market on its head,\u201d analysts at AB Bernstein, a Wall Street research and brokerage firm, wrote in a note cited by the outlet. \u201cFor LNG projects that are still being contemplated, this would be a big negative.\u201d<\/p>\n
Read more<\/p>\n
Putin reveals details of major Russia-China gas deal<\/p>\n
The report framed the development as a signal from Beijing to Washington that it does not need US LNG for long-term growth, a message sent as relations between the two countries sour.
\nBloomberg added that China appears comfortable with deeper reliance on Russian supplies, which Bernstein predicted could cover 20% of its gas demand by the early 2030s, up from around 10% today. This week, China also received its first shipment from Russia\u2019s Arctic LNG 2 project, despite US sanctions.
\nMoscow has accused Western governments of prioritizing geopolitics over fair competition, pointing to the freezing of Russian sovereign assets and attempts to curtail its energy exports through economic restrictions.
\nRussian officials argue such actions are pushing Moscow to seek more dependable customers, particularly for pipeline gas, which requires heavy infrastructure investment and long-term cooperation.<\/p>\n","protected":false},"excerpt":{"rendered":"
Moscow could double deliveries to its Asian neighbor by the 2030s, shutting out US exports, Bloomberg has warned Russia\u2019s announcement this week of expanded pipeline gas exports to China could…<\/p>\n","protected":false},"author":1,"featured_media":17444,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[4,3,5],"tags":[],"class_list":["post-17443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-politics","category-society"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t