Russian fuel exports to China increase

Russian fuel exports to China increase

Chinese customs data reveals that since the beginning of the year, both LNG and oil deliveries have increased.

According to a report released on Sunday by China’s General Administration of Customs, Russian oil and gas exports to China increased significantly between January and October of this year compared to the same period in 2021.

Its data show that deliveries of liquefied natural gas (LNG) increased by 32% annually to 4.98 million tonnes. The increase was 157% in dollars and exceeded $5.3 billion. China currently receives its LNG from Russia in fourth place, behind Malaysia, Australia, and Qatar. According to data, China increased its imports of fuel from Qatar during the first ten months of the year, but shipments from Australia and Malaysia have decreased.

The value of pipeline gas flows from Russia in January–October 2022 increased by 182% compared to the same period in 2021, reaching $3.1 billion. However, the customs agent does not currently list the physical volume of China’s pipeline gas imports. As a result, Russia overtakes Turkmenistan ($8.23 billion) as the region’s second-largest pipeline gas supplier to Asia.

Over this time, China’s imports of Russian oil increased sharply as well, up 9.5% to 71.97 million tons. In dollar terms, deliveries increased by 53% to $49.19 billion. According to the data that has been made public, Russia was China’s second-largest oil supplier in both October and September. Saudi Arabia continues to hold the top spot, selling China 73.76 million tonnes of fuel for $55.5 billion between January and October.

 Read more Business News , Today Politics Headline , Today Finace News Update ,Latest Social News Update  , World Highlight , Entertainment Latest News , Today Sports News Update , Latest Education Update , Real Estate Today Update

Business Latest Latest News