In its great energy pivot eastwards, Russia is set to open its first liquefied petroleum gas (LPG) terminal on the Pacific Ocean coast with joint investments from China by the end of 2025.
Last week during Russian president Vladimir Putin’s visit to Beijing, Russian Direct Investment Fund (RDIF) sealed a deal with Chinese petrochemical company Haiwei to finance a terminal in Russia’s Far East with an annual capacity of 1m tons.
According to Reuters, the terminal will be located Sovetskaya Gavan just south of Vanino and opposite the giant LNG works at Sakhalin.
China is the world’s largest consumer and importer of LPG. China and India have been key buyers of Russian energy in the 27 months since the full-scale invasion of Ukraine, a war that has seen clients in western countries ditch Moscow with Putin working to establish infrastructure to foster closer links with Asian partners.
Shame on Russia!