From the Russian energy giant, record after record! For the third time in four days

Gazprom set a third daily record in four days for natural gas shipments to China via the Power of Siberia pipeline during the first four days of November, though the company did not disclose the actual daily volume. The Russian energy giant has been steadily ramping up exports to China as Europe reduces its dependence on Russian gas following the war in Ukraine. The repeated records underscore how Beijing has become an increasingly critical market for Gazprom, which has lost most of its European customer base. Watch for Gazprom to disclose monthly or cumulative export figures, and for further record announcements as winter demand peaks and pipeline capacity continues to be tested.