According to materials of the Russian Federation’s state budget law, in 2026 China will purchase Russian gas supplied by the «Power of Siberia» pipeline at a 56% discount compared with prices for other foreign customers of Gazprom. This is a record discount according to the figures published in the budget.
Price for China and the size of the discount
On average over the year the price for the market of the People’s Republic of China (PRC) will be $247,9 per thousand cubic metres, while the company’s other foreign customers will pay $562 per thousand cubic metres. The difference amounts to $315 per thousand cubic metres, or a 56% discount.
Compared with last year the size of the discount for China will increase by 15%. Previously China bought gas at $240,3 per thousand cubic metres versus $406,5 for other foreign customers.
Planned changes to discounts in 2028–2029
Budget calculations for 2028 include a reduction of discounts to 32% — $247,8 for China versus $361,9 for other customers, and for 2029 — to 24% at $246,4 versus $323,2. These figures reflect planned adjustments to pricing policy on the China route.
Serhii Vakulenko, senior research fellow at the Berlin Carnegie Centre for the Study of Russia and Eurasia, noted that on the China route Gazprom receives noticeably worse terms. For comparison, for Turkmen gas Beijing pays $40−60 more per thousand cubic metres.
