China is on track to become the largest market for Russia’s pipeline gas this year, overtaking Europe after the Kremlin’s war against Ukraine capped flows of the fuel to the region.
Russian gas giant Gazprom exported 23.7 billion cubic meters of natural gas to China in the first nine months of the year, or almost 40% above volumes exported in the same period of last year, according to Bloomberg calculations based on the Asian country’s customs data and price estimates from the Russian economy ministry.
That compares with 22.5 billion cubic meters of pipeline gas sent to Gazprom’s remaining customers in Europe from January through September, according to calculations based on flows via Ukraine and the TurkStream link.
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