Vice premier expects Chinese, Russian energy giants to expand co-op

Updated: 2014-09-01 18:10


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MOSCOW - Visiting Chinese Vice Premier Zhang Gaoli expressed the hope here Saturday that oil and gas giants from China and Russia will further expand bilateral energy cooperation for even greater successes on the basis of achievements already made.

Zhang made the remarks in separate meetings with Rosneft chief Igor Sechin and Gazprom chairman Alexey Miller. Both Rosneft and Gazprom are Russia's top oil and gas companies.

Zhang is now in Yakutsk, capital of Russia's Far East autonomous republic of Saha-Yakutia, to inaugurate the construction of the Russian part of the the China-Russia East Route natural gas pipeline. Zhang also co-chaired the 11th meeting of the China-Russia Energy Cooperation Committee in Moscow with Russian Deputy Prime Minister Arkady Dvorkovich on Saturday.

Zhang is scheduled to attend, together with Russian President Vladimir Putin, the start-of-construction ceremony for the Russian part of the East Route of the China-Russia natural gas pipeline.

During the separate meetings with Sechin and Miller, Zhang said that his current visit to Russia reflects the great importance China attaches to energy cooperation with Russia.

He expressed the hope that Chinese and Russian oil and gas companies will keep deepening and expanding bilateral cooperation on the basis of achievements already made in existing cooperation, and, in accordance with the consensus reached between the two countries' heads of state, will promote China-Russia energy cooperation toward the achievement of greater successes, to boost economic development in both China and Russia in the interest of the two peoples.

Zhang said energy cooperation between the two nations, especially in the field of oil and gas, has been very fruitful over recent years. The two sides have built oil pipelines connecting the two countries, and crude oil is supplied through both the East and West Routes.

When the presidents of the two countries met in Shanghai in May this year, the two sides sealed a big deal on constructing the East Route of the China-Russia gas pipeline, signifying a historic breakthrough in bilateral cooperation on natural gas, said Zhang.

Zhang noted that relevant companies from both countries have conducted close cooperation and made important contribution to the rapid growth of China-Russia energy cooperation.

During the separate meetings with Zhang, Both Sechin and Miller emphasized the great significance of Russia-China cooperation on oil and gas, saying such cooperation is conducive to the economic growth of both countries.

They expressed the readiness of Rosneft and Gazprom to comply with the consensus reached between the heads of state of the two countries, cooperate closely with Chinese companies to earnestly honor the agreements signed, and secure smooth progress in the execution of joint projects. They also expressed the hope to further explore new fields of oil and gas cooperation with Chinese partners.

According to contracts signed between China National Petroleum Corporation (CNPC) and Gazprom, the Russian side will launch the construction of the Russian part of the China-Russia East Route gas pipeline on Monday. In a 30-year period starting from 2018, Russia will export 38 billion cubic meters of gas to China through the pipeline every year.

In addition to oil pipeline deals, the CNPC and Rosneft are also working on a joint venture oil refinery in north China's Tianjin City.

In 2013, China imported 24.35 million tons of crude oil, 27.28 million tons of coal and 3.5 billion kwh of power from Russia.