Key facts
- China will pay an average of $248 per thousand cubic meters of Russian gas in 2026, a 56% discount.
- Gazprom's other foreign customers outside the former Soviet Union will pay $562 per thousand cubic meters in 2026.
- Talks for a "Power of Siberia 2" pipeline have stalled over pricing disputes.
- China is paying up to $60 per tcm more to Turkmenistan than the Russian purchase price.
- Kazakhstan's KNB detained 13 Chinese nationals allegedly operating an international online fraud scheme.
Russia is providing China with a significant discount on natural gas, a move that highlights Moscow's financial reliance on Beijing. According to Russian Duma documentation cited by The Moscow Times, China is set to pay an average of approximately $248 per thousand cubic meters of pipeline gas in 2026. This represents a discount of up to 56% compared to the $562 per thousand cubic meters charged to other foreign customers outside the former Soviet Union. This pricing arrangement is seen as the cost of Beijing's continued political backing for Russia's actions in Ukraine, especially as Western sanctions and European efforts to reduce dependency on Russian gas make China's purchases a vital funding source for Russia's war efforts. Russia hopes to negotiate better terms in the future, but its leverage has diminished, as evidenced by China paying more for gas from Turkmenistan and stalled discussions for the "Power of Siberia 2" pipeline due to pricing disagreements. Carnegie's Russia Eurasia Center noted that Russia's break with Europe has left it with large, unsold gas reserves in Siberia, further strengthening China's negotiating position.