Gazprom’s stake on Asia can be not proved

Gas supplies to China may soon exceed the current exports to Europe (150-160 billion cubic meters per year), chairman of the Gazprom’s Board Alexei Miller predicted at the end of 2014. But China may not need so much Russian gas. CNPC decreases the forecast of the demand, the company’s deputy general director for strategic research Wang Zhen reported at the conference "Sakhalin Oil and Gas 2015".

The State Plan of China suggests that by 2020, the gas consumption in the country will exceed 360 billion cubic meters. However, CNPC expects that the demand will at best reach 334 billion cubic meters, and at worst – won’t exceed 269 billion cubic meters. The presentation states that by 2020, China will import 75-80 billion cubic meters of pipeline gas. Now it receives the whole pipeline gas from Turkmenistan and Myanmar. At the same time small volumes of gas will begin to be supplied from Russia through the Power of Siberia gas pipeline. On the whole, under the 30-year contract Gazprom will sell 38 billion cubic meters of gas per year to China.

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