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Opening Ceremony of the Second Russian-Chinese Energy Business Forum
6 June 2019
12:15—13:00
KEY CONCLUSIONS
Energy cooperation is one of the main drivers of economic relations 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 dynamics according to all indicators and in all areas. <...> China is a producer 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 — Dmitry Kozak, Deputy Prime Minister of the Russian Federation.

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 — Zhang Jianhua, National Energy Administration Director.

Russian-Chinese cooperation is becoming a powerful factor in the development 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 condensate production and 20% of global consumption. Energy is the foundation for trade and economic cooperation between Russia and China. Energy products make up about 40% of trade, which amounted to USD 108 billion at the end of last year — Igor Sechin, Chief Executive Officer, Chairman of the Management Board, Deputy Chairman of the Board of Directors, PJSC Rosneft.

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 — Wang Yilin, Chairman, China National Petroleum Corporation.

ISSUES
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 — Igor Sechin, Chief Executive Officer, Chairman of the Management Board, Deputy Chairman of the Board of Directors, PJSC Rosneft.

Today’s event will not only expand business ties, but also strengthen friendly relations between our states and nations in the current complex geopolitical situation, when both Russia and China have come under unprecedented pressure from our esteemed partners — Evgeny Primakov, Member of the State Duma of the Federal Assembly of the Russian Federation; Journalist; Author of the International Review Programme, Russia-24 TV Channel; Chairman of the Supervisory Board, Russian Humanitarian Mission .

SOLUTIONS
Developing uniform and transparent business rules

One particular aspect of the second forum will be close interaction between 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 — Igor Sechin, Chief Executive Officer, Chairman of the Management Board, Deputy Chairman of the Board of Directors, PJSC Rosneft.

Development of new oil production centres in northern and eastern 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 — Igor Sechin, Chief Executive Officer, Chairman of the Management Board, Deputy Chairman of the Board of Directors, PJSC Rosneft.

The material was prepared by the Russian news agency TASS