MOSCOW - President Hu Jintao met Russian Prime Minister Vladimir Putin on Thursday, seeking an agreement in a price dispute over Russian gas supplies.

The meeting was held at the headquarters of Russia's gas export giant Gazprom as the two countries worked hard to hammer out a deal.

"We chose to hold the meeting here because we want China's top leader to know more about this Russian energy company," said Putin in his opening remarks.

Putin, who specifically called for the development of Sino-Russian energy ties, said if a new gas deal can be reached, this would significantly promote cooperation between the two countries.

Hu said China highly values Putin's efforts to develop China-Russia relations over the past decade since the signing of the China-Russia Treaty of Good-Neighborliness, Friendship and Cooperation.

While Russia has issued a blueprint for its strategic development for the next 10 years, China is also eyeing the following decade as a key period.

The two countries will enjoy new opportunities to deepen their strategic partnership, Hu noted.

To further promote cooperation in the next decade, both countries should continuously enlarge their bilateral trade, with the goals of reaching $100 billion by 2015 and $200 billion by 2020, Hu added.

The two sides should strengthen cooperation on energy, including nuclear power, coal, electricity, new energy and new technologies, Hu said.

Meanwhile, China and Russia are also expected to see more progress in mutual investment, innovation and high-tech, as well as infrastructure construction in border areas.

Putin agreed that the partnership between Russia and China is of great significance, and its healthy development will benefit not only the two nations but also the world.

Feng Yujun, head of the Russian Studies Division at the China Institutes of Contemporary International Relations, said the dispute over gas prices will be settled since cooperation is conducive to both countries' economic development.

"China is adjusting its energy consumption structure and will need more natural gas in the future, and Russia needs China as a huge potential market," Feng said.

China Daily - Xinhua

(China Daily 06/18/2011 page6)