Gazprom has secured contracts to ship gas to China until 2049.

On Friday, the Russian energy conglomerate Gazprom announced the delivery of the first 100 billion cubic meters of gas to China as part of a contract totaling more than 1 trillion cubic meters of fuel.

RELATED:

Russian Forces Liberate 13 Settlements Over the Past Week

“The first 100 billion cubic meters of Russian gas have been delivered to China through the Power of Siberia pipeline,” Gazprom President Alexei Miller said, noting that this delivery marks the beginning of a long-term venture, as “the contract is valid through mid-2049.”

Miller also announced that starting in 2027, Gazprom will begin supplying Russian gas to China via a second route through the Far East.

“Projects like the Power of Siberia and the Far Eastern route are more than just clean energy supplies. They represent a strong bond between our countries and peoples — a mutually beneficial cooperation for many years to come,” Miller said.

As a result of Western sanctions, Russia — whose main gas market had been Europe — has been forced to seek new destinations for its exports. China and India are now among its top clients.

In an effort to expand its market, Gazprom has also launched projects aimed at increasing gas supplies to Russian consumers across the country. This state-controlled company is the world’s largest producer of natural gas. Established in 1989, Gazprom emerged from the Soviet Ministry of Gas Industry and was later transformed into a joint-stock company.

Headquartered in Moscow, Gazprom is involved in the extraction, production, transportation, and sale of natural gas, oil, and other energy products. It owns the world’s largest natural gas reserves and operates an extensive network of pipelines, including major export routes to Europe and Asia.

teleSUR/ JF

Source: EFE

IN THIS ARTICLE