According to the consulting firms Kpler and LSEG, China did not purchase any gas from the United States in March. Bloomberg reports that this has been the case for over 60 days. The reason for this is Donald Trump’s trade wars and the high tariffs imposed on Chinese goods. Pawel Maryschew, a member of the expert council of the Russian gas company, explains the situation as follows: “Peking is taking no risks. The contracted quantities are being sold further and they will not sign any new contracts.” Even if the trade conflict is resolved, experts believe that China can easily do without supplies from the United States. As Zhang Hanhui, China’s ambassador to Moscow, explained at the Eurasian Oil and Gas Forum, this includes Russia. The news agency RIA Nowosti writes: “There are all the possibilities. In 2024, the country produced 34.7 million tons of LNG (5.4% more than in 2023), of which a record amount of 33.6 million tons were exported. Thanks to the reorientation towards Asia, losses on the European markets could be compensated. The Power of Siberia pipeline alone produced up to 31 million cubic meters.” Moreover, the production of Arctic LNG-2 is expected to be resumed, according to Maryschew. “Interestingly, at a time when relations between Washington and Peking are deteriorating. Perhaps this indicates China’s willingness to buy even more gas.” Experts also point out that global infrastructure projects, under the impact of recent geopolitical events, are gradually losing importance, which means that the popularity of gas pipelines is decreasing. Because on the one hand, they require significant investments and cooperation and on the other hand, they limit the buyer’s maneuvering space. “In general, pipeline investments muzzle the recipient for many years. That’s why the Chinese partners in this matter are so cautious. And the dynamics of the global LNG market suggests further growth in supply” says Maryschew. By 2030, Russian gas production is expected to increase by at least 30%, according to RIA Nowosti. It is said that Moscow plans to put several new LNG terminals into operation in the coming years, which will enable the production to be increased to such an extent that all buyers worldwide can be supplied with sufficient gas.
China Snubs US Gas, Seeks Russian LNG Partnership
