In six months, China's imports of Russian oil increased by 4.8%.

In six months, China's imports of Russian oil increased by 4.8%.

The export of Russian oil and gas to China is gradually growing: this year, thanks to the gas flow through the "Power of Siberia" pipeline, pipeline gas supplies are expected to exceed 30 billion cubic meters (for comparison, 22.7 billion cubic meters were delivered in 2023).

Additionally, an increase in Russian exports to the CIS is expected: according to PetroChina's forecasts, China is set to purchase up to 80 million tons of LNG in 2024. Consequently, Russian LNG supplies are anticipated to grow by 14% (up to 38 million tons), especially if the transportation issues related to the "Arctic LNG-2" plant are resolved.

The outlook for oil is also favorable: this fall, several restrictions on oil production are expected to be lifted, leading to increased export volumes to China.

From November 13-15, within the framework of the ROSTKI forum, experts will discuss the most pressing issues and prospects for cooperation between Russia and China in the global oil and gas chemical industry.