HomeBusinessAsian buyers of Russian oil, gas and coal

Asian buyers of Russian oil, gas and coal

:As the Ukraine-Russia disaster intensifies and threatens to spark battle in Europe, analysts warn there could also be implications for Asia, the place a number of international locations depend upon Russia for oil, gas and coal.

Any invasion of Ukraine by Russian troops might set off sanctions and reprisals that will disrupt the motion of fuels and influence vitality safety affecting buyers even hundreds of miles away, analysts warned.

Below are particulars on how Asian international locations depend on oil, gas and coal from Russia. CHINA

China accounts for 15.4per cent of Russia’s complete crude oil exports, with solely Saudi Arabia promoting it extra. China’s Russian crude oil shopping for averaged 1.59 million barrels per day (bpd) final yr, or 15.5per cent of its complete imports.

China receives about 40per cent of this through the 4,070-km (2,540-mile) East Siberia Pacific Ocean (ESPO) pipeline.

Russia can be China’s No. 3 gas provider. China accounted for six.7per cent of Russian pure gas exports in 2021. Russian exports to China totalled 16.5 billion cubic metres (bcm), or about 12.07 million tonnes in 2021, assembly roughly 5per cent of China’s demand.

Russia was additionally China’s No. 2 coal provider in 2021. China imported 15.25 million tonnes, or 4.72per cent of its complete coal imports, from Russia in 2021, customs knowledge confirmed. SOUTH KOREA

Russia was South Korea’s fourth-largest crude oil provider in 2021 after Saudi Arabia, the United States and Kuwait. South Korea imported about 7.92 million tonnes of crude oil from Russia final yr, value about $4.27 billion, knowledge from the Korea International Trade Association (KITA) confirmed.

South Korea additionally imported 2.87 million tonnes of gas from Russia final yr, the KITA knowledge confirmed, making it the nation’s sixth-largest provider.

Russia was the second-largest coal exporter to South Korea in 2021 after Australia, transport 21.95 million tonnes value about $2.56 billion and accounting for 17.5per cent of South Korea’s complete coal imports, the information confirmed.

JAPAN

Russia was Japan’s second-biggest provider of thermal coal in 2021, making up 12.48per cent of its thermal coal imports, Japanese customs knowledge confirmed.

Russia was Japan’s fifth-biggest provider of crude oil and liquefied pure gas (LNG) in 2021, accounting for 3.63per cent and 8.84per cent of its complete imports, respectively.

Japan accounted for 4.1per cent of Russia’s crude oil exports and 7.2per cent of its pure gas exports.

VIETNAM

Russia was the third-largest coal exporter to Vietnam in 2021, after Australia and Indonesia. Its coal exports to Vietnam totalled 3.59 million tonnes in 2021, accounting for 9.9per cent of Vietnam’s complete coal imports, Vietnam customs knowledge confirmed.

The nation didn’t import crude oil from Russia in 2021, however Vietnam’s state oil agency PetroVietnam has a 49per cent stake in an oil three way partnership (Rusvietpetro) with Zarubezhneft in Russia’s Nenets Autonomous Region, which had produced 30 million tonnes of crude oil as of mid-2021 since its institution in 2008.

INDIA

India imported 1.8 million tonnes of thermal coal from Russia in 2021, down from 2.5 million in 2020, knowledge from Iman Resources confirmed.

Russia’s share in India’s thermal coal imports fell to 1.3per cent in 2021 from 1.6per cent.

India imported 43,400 bpd oil from Russia in 2021, about 1per cent of general its imports.

India accounts for about 0.2per cent Russia’s pure gas exports. GAIL (India) Ltd has a 20-year cope with Gazprom to purchase 2.5 million tonnes of LNG a yr which began in 2018.

(Reporting by Beijing newsroom, Aizhu Chen in Singapore, Nidhi Verma and Sudarshan Varadhan in New Delhi, Heekyong Yang in Seoul, Yuka Obayashi in Tokyo and Khanh Vu in Hanoi; writing by Isabel Kua; enhancing by Gavin Maguire, Tom Hogue and Jason Neely)

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