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BRICS — Russia Triples Gas Supplies to China Via Power of Siberia Pipeline

Summary:
Russia’s energy major Gazprom said on Monday that it had pumped more gas to China in February via the Power of Siberia pipeline than it had initially planned, more than tripling supplies compared to the same month last year. “The export of gas to China through the Power of Siberia gas pipeline continues to grow. Supplies regularly exceed our daily contractual obligations. The actual monthly volume of supplies in February is 3.2 times more than in February 2020,” Gazprom said in a statement. The 3,000km (1,864 mile) cross-border pipeline started official deliveries of Russian natural gas to China in 2019. The so-called eastern route’s capacity is 61 billion cubic meters of gas per year, including 38 billion cubic meters for export. Last year, Gazprom supplied 4.1 billion cubic meters of

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Russia’s energy major Gazprom said on Monday that it had pumped more gas to China in February via the Power of Siberia pipeline than it had initially planned, more than tripling supplies compared to the same month last year.

“The export of gas to China through the Power of Siberia gas pipeline continues to grow. Supplies regularly exceed our daily contractual obligations. The actual monthly volume of supplies in February is 3.2 times more than in February 2020,” Gazprom said in a statement.

The 3,000km (1,864 mile) cross-border pipeline started official deliveries of Russian natural gas to China in 2019. The so-called eastern route’s capacity is 61 billion cubic meters of gas per year, including 38 billion cubic meters for export. Last year, Gazprom supplied 4.1 billion cubic meters of gas to China via the Power of Siberia. It plans to boost exports by an additional six billion cubic meters.


BRICS
Russia Triples Gas Supplies to China Via Power of Siberia Pipeline

Also at BRICS
China has pledged to provide nearly half a billion doses of the COVID-19 vaccine to about 45 countries and is ignoring Washington’s provocative charges that it is using vaccines to diplomatize and expand its influence through soft power initiatives. According to the Financial Times newspaper, the U.S. is developing a plan with QUAD allies - Japan, India and Australia – to distribute vaccines globally to hamper Beijing's efforts to expand its influence. The plan is being led by the White House's Indo-Pacific policy coordinator, Kurt Campbell, who reportedly met with ambassadors from QUAD member countries.

Considering the persistence of COVID-19 in some countries, in December last year Beijing promised Southeast Asian and African countries that they would have priority when the vaccines manufactured nationally by China were ready for distribution. Despite Washington's accusations, Beijing denies that its “vaccine diplomacy comes with costs.” A spokesman for the Chinese Foreign Ministry said that China considers the vaccine a “global public good.”

Wang Huiyao, president of the Center for China and Globalization, a Beijing-based think tank, commented: “I don't see any connection in that […]. China should do more to help other countries because it is doing well.”

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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