Russia Signals Lower Gas Prices for China Compared With Europe and Turkey

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Russia expects to sell natural gas to China at significantly lower prices than it charges in Europe and Turkey, according to a draft outlook from the Economy Ministry tied to the 2026 budget. The document, seen by Bloomberg, projects that Chinese deliveries will be priced at least 27 percent below European and Turkish levels over the next three years, with the gap widening to 38 percent in 2025. The numbers lay bare the price Moscow is paying for its eastward pivot. With Europe largely off the table, Russia has funneled volumes into the Power of…