China's Imports of Russian LNG Triple in 2022

The latest customs data reveal that this year, LNG shipments to China from Russia (28.5 percent) and Qatar (66.7 percent) have increased so far this year.

RELATED:
China and Russia Partner To Inject Stability Into World - SCO

The value of LNG coming into China from Russia via pipelines in the first eight months of 2022 totaled 2.39 billion dollars, nearly triple that of last year, the South China Morning Post (SCMP) said by consulting the data.

According to the SCMP, China's total LNG imports from Russia increased by 28.5 percent year-on-year, with 66.7 percent, or two-thirds, from Qatar.

This upturn in Moscow-Beijing relations comes amid attempts by the West to cut off Russia politically and economically since it launched its special military operation in Ukraine last February. 

China has refused to join Western moves regarding the ongoing conflict in Ukraine, remaining neutral while calling for its peaceful resolution and recognizing NATO's instigating position in the conflict.   
 
Facing the loss of European customers, Russia, as the largest exporter of petroleum products, crude oil and LNG included, offered discounts to major buyers, which led to a sharp increase in purchases from China and India. 

Russian energy giant Gazprom announced earlier this month the start of transactions between Russia and China for the supply of gas in rubles an yuan, as part of an agreement reached with China National Petroleum Corporation (CNPC).