Overview
- Chinese customs data show Russian LNG deliveries hit 1.6 million tonnes in November, up 142.6% year over year and accounting for 23.5% of imports, placing Russia alongside Qatar and ahead of Australia’s 21.1% share.
- Gazprom’s pipeline exports to China are expected to reach about 38.6–38.7 bcm in 2025, roughly 25% above last year, according to Reuters citing an anonymous source.
- Resumed production at Novatek’s Arctic LNG 2 supplied multiple cargoes to China, with flows continuing despite Western sanctions on the project.
- A Chinese LNG tanker made a first call at Gazprom’s sanctioned Portovaya terminal in the Baltic Sea, reflecting China’s stance of not recognizing unilateral U.S. sanctions.
- Plans for a second pipeline, Power of Siberia 2, moved forward with a legally binding memorandum, though pricing, financing and a build horizon of up to 10 years remain unsettled.