By Irina Mironova for Cedigaz
Russia’s gas trade with China continued to evolve in 2025, demonstrating a growing structural reliance on the Chinese market across both pipeline and LNG channels. While recent political signals – including the Power of Siberia 2 memorandum at the SCO Summit and the direct deliveries from Arctic LNG 2 to China’s Beihai LNG terminal – attracted considerable attention, the underlying trade data point to a more nuanced picture. China’s LNG imports from Russia rose seasonally in September, in line with typical autumn patterns rather than representing a record-breaking surge, and cumulative LNG deliveries over January–October remained lower year-on-year. This dynamic highlights an increasingly asymmetric relationship: Russia is becoming more dependent on China to absorb redirected pipeline gas and discounted LNG, whereas for Beijing, LNG continues to serve a flexible balancing role, with limited structural growth in underlying demand.