This year, Russia is selling gas to China at a nearly 40% discount, according to The Moscow Times, citing data from Russia’s Ministry of Economic Development.
In the ministry’s baseline forecast, the average price of Russian gas for exports to distant foreign markets (excluding China)—namely Turkey and the remaining European countries—will amount to $356.7 per 1,000 cubic meters in 2026–2028. For China, however, the average forecast over the same three-year period is $243.6, or 31.7% lower than for the European direction.
“The situation looks even worse in the estimate for the current year: the difference will reach **38.1% ($248.7 vs. $401.9 per 1,000 cubic meters). For comparison, in 2024 gas sold to China was priced 29% cheaper than supplies to Europe and Turkey,” the report said.
Earlier, Gazprom CEO Alexei Miller claimed that the price for China should “objectively be lower” than for Europe, as deliveries to China are geographically closer.
“Whether that is truly objective or not, Moscow has no way to offset the financial losses caused by the collapse of its European market,” the outlet notes.
In the coming years, Russia is expected to lose even the remaining gas supplies to Europe. The European Commission has presented a plan to completely phase out Russian energy imports by the end of 2027. While Hungary and Slovakia continue to buy Russian oil and remain the main recipients of pipeline gas, and LNG imports also persist, the EC—under pressure from Donald Trump—announced plans to move the oil cutoff deadline forward by one year.
Meanwhile, Hungary has refused to halt purchases, but the Prime Minister and Energy Minister of Bulgaria stated that if the EU decides to stop Russian gas supplies, Sofia will halt transit, as Bulgaria hosts the last functioning pipeline carrying Russian gas into Europe.
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