China, the world’s largest consumer of liquefied natural gas (LNG), plans to increase its import of Russian LNG this year due to rising prices of American resources, which are complicated by tariffs. At the same time, discussions are underway in both countries regarding the construction of the “Power of Siberia-2” gas pipeline from Russia to China, although the route, with a capacity of 50 billion cubic meters of gas per year, has not yet been approved.
This is reported by Бізнес • Медіа
According to reports, last year Russia increased its LNG supplies to China by 3.3%, reaching 8.3 million tons, making it the third-largest gas supplier to China. Important LNG exporters to China also include Malaysia and the United States. Last year, the US accounted for about 5% of China’s LNG imports.
Development of Gas Infrastructure and Legal Case in the US
While China seeks to diversify its gas supply sources, the US Federal Appeals Court has made a ruling regarding the Alaska Gasline Development Corp. The court dismissed an appeal from environmental groups against the decision of former President Joe Biden’s administration, which approved the construction of a 1,300 km gas pipeline costing $44 billion. This pipeline is intended to transport gas from northern Alaska across the state and export it abroad.
“The court’s decision paves the way for the implementation of a large-scale project that could significantly increase gas exports from Alaska,” experts note.
Overall, current trends in the global gas market indicate an activation of logistics and investment projects in light of the geopolitical situation and price fluctuations.