Russia Gives China Deep Gas Discount as Leverage Weakens

· Oil & Gas · Russia · China

Russia is giving China a steep discount on natural gas, the Moscow Times reported, citing Russian Duma documentation. China will pay an average of about $248 per thousand cubic meters of pipeline gas in 2026, compared with $562 for Gazprom's other buyers. The gap underscores the Kremlin's fiscal dependence on Beijing as Moscow seeks to redirect exports away from European markets. The discount effectively shifts revenue from Russia to China and strengthens China's position in negotiating future supply terms.

Why it matters：The widening price gap shows how sanctions and lost European demand are shifting bargaining power in global gas trade toward buyers.

Key points

  • China pays about $248 per thousand cubic meters versus $562 for other buyers.
  • The figures come from Russian Duma documentation cited by the Moscow Times.

Sources (original reporting)

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