How will Power of Siberia shape China’s gas market?

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04 December 2019

How will Power of Siberia shape China’s gas market?

Report summary

Russia’s dream of piped exports to eastern markets is now a reality. The successful launch of the Power of Siberia gas pipeline on 2 December is a key milestone in the China-Russia energy relationship. It will diversify Russia’s gas export mix and help China achieve a cleaner energy mix. But there are several risks to Russian gas imports and Gazprom's initial ramp-up plans. In this insight we will review: • Where in China will Russian gas be most competitive? • How will Russian gas imports change the supply mix in Chinese target markets? • What are the key risks to the Power of Siberia ramp-up? Please read our Insight to find out more.

Table of contents

  • Executive summary
  • Power of Siberia commissioning – a landmark for both Russia and China
    • Gazprom is unlikely to achieve its initial ramp-up target
    • There is room for PoS gas across China's regional markets
    • Northeast region – the initial and core focus for Russian gas
    • Beijing-Tianjin-Hebei and Shandong – a competitive heartland
    • Yangtze River Delta – the end of the line for PoS gas
    • Upstream – lots more work to come for Gazprom
    • Infrastructure – China’s pipeline connections are far from complete
    • Demand – clouds gather over China growth outlook
    • Gas-on-gas competition – China’s market reforms could reshape the state of play

Tables and charts

This report includes 13 images and tables including:

  • China’s internal pipelines for PoS gas (Russia-China East)
  • Power of Siberia and China’s pipeline network
  • Power of Siberia ramp-up
  • Russian gas’ share in total gas imports mix
  • Northeast region demand outlook
  • Northeast regional gas infrastructure
  • Delivered cost to Northeast region (US$/mmbtu, real)
  • BTH - Shandong demand outlook
  • BTH - Shandong regional gas infrastructure
  • Delivered cost to BTH-Shandong (US$/mmbtu, real)
  • Yangtze River Delta demand outlook
  • Yangtze River Delta regional gas infrastructure
  • Delivered cost to Yangtze River Delta (US$/mmbtu, real)

What's included

This report contains:

  • Document

    How will Power of Siberia shape China’s gas market?

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