Russian gas export plans exceed the needs of China

The plan of Russian companies to export gas to China is doubtful, though Beijing keeps increasing both its import and consumption of gas in spite of the economic stagnation. Gas purchases in PRC will only grow, gas will replace coal and will be pumped into underground storages, is said at the market. Though, even in such situation Russia can only count on the delivery of 100 billion cubic metres and the export plans of Russian companies are already comparable to this amount, Kommersant reports.

The state committee of China for development and reforms has reported, in January-June 2013 gas consumption in the country increased by 13.1% - to 81.5 billion cubic metres. Though, own extraction of PRC made up almost 59 billion cubic metres and gas import increased by 24.6% - to 24.7 billion cubic metres.