Energy cooperation is one of the main drivers of economic rela-tions between Russia and China
“In terms of Russian-Chinese cooperation, we have reached an unprec-edented level of cooperation and continue to develop dynamically in this regard. Our cooperation is demonstrating extremely positive dy-namics according to all indicators and in all areas. [...] China is a pro-ducer and major consumer of energy feedstock and energy resources. Russia is a major supplier of hydrocarbons to global markets, and the figures for 2018 show that Russia has become China’s largest partner in terms of the supply of oil, coal, and electricity”, Russian Deputy Prime Minister Dmitry Kozak said.
“Cooperation between China and Russia is continuing and intensifying. In 2018, energy trade exceeded USD 40 billion, which amounts to roughly 40% of bilateral trade”, National Energy Administration Director Zhang Jianhua said.
“Russian-Chinese cooperation is becoming a powerful factor in the de-velopment of global energy markets. In total, our countries produce more than 30% of energy resources and consume about a third of them. Russia and China account for 17% of global oil and gas conden-sate production and 20% of global consumption. Energy is the founda-tion for trade and economic cooperation between Russia and China. En-ergy products make up about 40% of trade, which amounted to USD 108 billion at the end of last year”, Rosneft CEO, Chairman of the Man-agement Board, and Deputy Chairman of the Board of Directors Igor Sechin said.
“For China and Russia, intensifying collaboration and building a new type of international relations is of great importance. Energy cooperation is an important focus and a core part of comprehensive Chinese-Russian strategic interaction”, CNPC Chairman Wang Yilin said.
Growing pressure on Russia and China from Western countries
“Russian-Chinese cooperation is developing amidst a new flare-up in trade wars. The main reason for trade wars is the weakness of other partners and their attempt to gain a unilateral advantage by diminishing competition”, Sechin said.
“Today’s event will not only expand business ties, but also strengthen friendly relations between our states and nations in the current com-plex geopolitical situation, when both Russia and China have come un-der unprecedented pressure from our esteemed partners,” said Yevgeny Primakov, Member of the Russian State Duma, Journalist, Au-thor of the International Review Programme on Russia-24 TV Channel, and Chairman of the Supervisory Board of the Russian Humanitarian Mission
Developing uniform and transparent business rules
“One particular aspect of the second forum will be close interaction be-tween government agencies and business. An important objective of the forum is to develop uniform and transparent business rules con-cerning customs, tax, and banking regulation. They should help to im-plement mutually beneficial projects as quickly as possible”, Sechin said.
Development of new oil production centres in northern and east-ern Russia
“Our projects for the development of new oil production centres in Eastern Siberia, the Arctic, and the Far East make it possible to hedge risks associated with insufficient investment in the development of conventional oil reserves”, Sechin said.