Last year Gazprom could not sell the amount of gas specified in the contract to China … The minimum volume was 4.25 billion cubic meters, but deliveries amounted to only 4.1 billion. This was told by the head of the Russian company Alexey Miller , TASS .
Nevertheless, he noted that in the fourth quarter the pumping was in excess of the planned mode. And on December 31, it exceeded daily commitments by 84 percent.
Gazprom’s production at the end of the year amounted to 500.1 billion cubic meters, and exports to non-CIS countries – 199.3 billion. The figures compared to 2019 fell by 9.48 and 10 percent.
However, Miller said that in terms of exports, the year is among the top five in history. According to the head of Gazprom, supplies increased to nine European countries, including Greece, Belgium, Denmark, Turkey, which practically stopped purchases in the summer. Moreover, the Netherlands and Slovakia bought a record amount of Russian gas.
Power of Siberia was officially launched at the end of December 2019. It was assumed that in the first year supplies will amount to five billion cubic meters, and in 2021 – ten billion. After reaching the design capacity in a few years, pumping should reach 38 billion cubic meters.
The cost of the contract with China is a trade secret. However, prices are traditionally tied to oil prices on world markets with a time lag of half a year. It follows from this that the PRC began to buy Russian gas at a time when prices for it dropped to record lows. The same dynamics, most likely, showed supplies to Turkey – back in January -September, when fuel was more expensive, they were a quarter less than a year earlier.
Earlier it was reported that with the onset of cold weather gas prices in Europe grew to the maximum values from April 2019. This happened amid a seven percent drop in liquefied natural gas (LNG) supplies.