Russia ready to supply additional oil volumes to China

Russian Deputy Prime Minister Alexander Novak announced that Russia is ready to supply China with an additional 2.5 million tons of oil per year via Kazakhstan.

"This is a proposal from the Chinese side, and we are ready to meet this kind of supply, but certain technical solutions need to be implemented," said Novak.

According to the Deputy Prime Minister, who is also the Energy Minister, the state pipeline company Transneft must assess the issues related to transporting the oil through Kazakhstan.

Previously, the Russian government approved a draft protocol on possible modifications to the existing agreement with China, which includes the option of increasing Russian oil supplies by 2.5 million tons.

The agreement concerns the supply of oil to refineries in western China. The new changes propose increasing the maximum volume of oil delivered, previously set between a minimum of 7 million and a maximum of 10 million tons, to a new upper limit of 12.5 million tons.

According to Chinese customs data, the country imported a total of 108.47 million tons of Russian oil in 2024, via various routes.

Novak also reiterated the interest of Chinese companies in participating in Russian oil and gas projects, particularly in the extraction and distribution of liquefied natural gas (LNG) in Ust-Luga, on the Baltic Sea.

According to Russia’s energy strategy document approved in April, LNG production is expected to increase from 32.3 million tons in 2023 to a maximum of 105 million tons by 2030.