MOSCOW, October 27. /TASS/. Liquefied natural gas currently costs China more than natural gas from Russia, Russian Deputy Prime Minister Alexander Novak told reporters on the sidelines of the Gas Exporting Countries Forum (GECF) summit.
"From an economic perspective, it is certainly much costlier for them [Chinese consumers] today. Amid a shortage of gas and a lack of cheap energy resources, consumers pay more due to both the deficit and rising prices by purchasing more expensive liquefied natural gas, which entails higher logistics costs," he said.
Novak said earlier that the LNG sector is showing record growth, with volumes having increased more than 50-fold over the past decade, and Russia having become one of the top three LNG suppliers to the Chinese market.