Russian official: Russia and China prepare to launch a new gas supply route and strengthen energy cooperation

Moscow, Sept 4 (KUNA) -- Russian Deputy Prime Minister Alexander Novak announced on Friday that Russia and China are preparing to launch the Far East route for gas supplies, confirming continued work on the Power of Siberia 2 project and accelerating the conversion of existing understandings into clear contractual agreements between companies. This came at the conclusion of the Eastern Economic Forum in the Russian city of Vladivostok, amid Russian reaffirmation of growing cooperation with China in oil, gas, and nuclear energy sectors.

Novak said in statements that Moscow and Beijing are also developing a joint project for the production and liquefaction of natural gas in the Arctic region, noting the two countries’ readiness to discuss research into promising nuclear technologies as part of expanding energy cooperation. He added that Russia and China will continue working on the Power of Siberia 2 project to accelerate the transition from intergovernmental agreements and understandings into specific contractual terms between companies, while also preparing to launch the Far East gas supply route to China.

Novak pointed out that, according to Russian estimates, China will account for more than 60 percent of Russia’s total gas exports by 2030. Over the past decade, Russian liquefied natural gas (LNG) supplies to China have increased more than 50-fold, making Russia one of the top three LNG suppliers to the Chinese market. He noted that the two countries are continuing to develop a joint project for extracting and liquefying gas in the Russian Arctic, alongside the participation of Chinese companies in major Russian LNG projects, emphasizing the importance of developing the necessary infrastructure for these projects.

He stressed the need to create and upgrade cross-border infrastructure between Russia and China, particularly oil and gas pipelines, ports, and energy facilities, to enhance the continuity of energy supplies and economic cooperation between the two countries.

In the oil sector, Novak reported that Russia currently directs about 94 percent of its oil exports to what it calls “friendly countries.” He noted that Russian oil exports to China rose by 25 percent during the first seven months of this year, with Moscow continuing to lead the list of oil suppliers to the Chinese market. He added that Russian oil companies have once again demonstrated, amid the Middle East crisis, their ability to ensure long-term oil shipments at prices they described as fair. He affirmed that, despite external pressures, the Russian fuel and energy sector continues to fully meet its obligations and plays a role in stabilizing the global energy market.

In the coal sector, the Russian Deputy Prime Minister stated that Russia’s exports of coking coal to China rose by 16 percent in the first half of 2026, amid recovering demand for this type of coal in the Chinese market. On domestic issues, he revealed that independent fuel stations in Russia have begun receiving fuel supplies, although not all stations have received complete deliveries so far. He confirmed that there are currently no plans to change the fuel price support mechanism, as authorities continue to monitor the oil products market.

For his part, Anton Kobyakov, advisor to the Russian President and Secretary General of the Organizing Committee of the Eastern Economic Forum, announced at the forum’s closing press conference that more than 9,300 participants from 78 countries took part in its proceedings. He noted that 318 agreements worth a total of nearly $81 billion were signed, excluding those subject to commercial confidentiality.

Kobyakov described Russia as a “stability oasis,” stating that cooperation with it can always yield mutual benefits, and considered Russia’s isolation in the modern world “almost impossible.”

On economic matters, Kobyakov predicted that “Europe and the United States will face a debt crisis in the future,” pointing to rising debt levels, the costs of supporting Ukraine, and energy expenditures, as well as the fact that the US federal debt has reached approximately $40 trillion. (End) D.A.N./R.J.