China uses less gas because it saves. It is a blow to Russia and Gazprom

Until a few months ago, Russia confirmed it China is its most important sales market in the gas market. As Alexei Miller, President of Gazprom, reported in eight months of this year The Russian company has increased gas supplies to China by 60 percent. – This year, we set several times the record for daily gas delivery in excess of our daily contractual obligations – he said.

The Russians increased the supply of blue fuel to China, Through the Siberian gas pipeline. – We know that the Chinese market is the most dynamic in the world and for the next 20 years Gas consumption in China is expected to increase by 40%. Increased gas consumption in the world. For this reason, we signed another contract for supplies to China. The head of Gazprom said a few months ago that this is the Far Eastern route.

However, it seems that Russia will have to verify these optimistic assumptions, since the economic situation in that country has hampered the growth of gas supplies to the Middle Kingdom.

As a result, according to Reuters, China’s consumption of natural gas fell for the first time in two decades this year. This situation is attributed, inter alia, to: the economic slowdown. However, the second major reason is savings. Due to the increase in gas prices, the authorities in Beijing recommended business and other consumers Reduce gas consumption.

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It did not take long to see the effects, as the latest data from the General Administration of Customs of the People’s Republic of China showed that from January to October, gas imports into this country fell by 10.4 percent. This is very bad news for Russia’s Gazprom, especially since previous analysts estimated a 1 percent decline in gas imports.

The Chinese also reduce the consumption of other energy resources. The savings also apply to oil purchases, which are down 2.7 percent in China in 10 months. up to 413.53 million tons. In addition, China also reduced its imports of coal, which fell by 10.5 percent. up to 230 million tons.