Alexander Novak conducts a meeting of the co-chairs of the Russian-Chinese Intergovernmental Commission for Energy Cooperation with Deputy Premier of the PRC State Council Ding Xuexiang
Deputy Prime Minister of Russia Alexander Novak paid a working visit to China. He addressed the 5th Russian-Chinese Energy Business Forum and held a meeting of the co-chairs of the Russian-Chinese Intergovernmental Commission for Energy Cooperation with Deputy Premier of the PRC State Council Ding Xuexiang.
In his remarks at the business forum, Alexander Novak cited data on Russian energy sales to China and assessed the prospects for expanded cooperation in fossil fuel, renewable energy sources, and climatic initiatives.
“Russia holds the key positions in the Chinese oil market. Last year, Russia supplied over 15 billion cubic metres of gas via the Power of Siberia (Sila Sibiri) gas pipeline. This year, we expect supplies at the level of 22 billion cubic metres. We are planning that the Power of Siberia gas pipeline will reach its rated capacity of 38 billion cubic metres of gas by 2025. A further increase in natural gas exports to China will be ensured via the Far Eastern route. A route via Mongolia based on the Soyuz-Vostok pipeline is also under discussion. Russia is Number 4 among the LNG exporters to China. Considering the projects that are currently at the implementation stage, Russia might become the main reliable LNG supplier to China in the future,” the Deputy Prime Minister said. He also noted the expansion of cooperation between Russia and China on projects in nuclear energy, coal production, and greater energy supplies.
During the meeting, the co-chairs discussed supplies of oil, gas, coal and electricity to China, as well as cooperation in peaceful uses of nuclear energy and an expansion of Chinese corporate investment in fuel and energy and gas refining facilities in Russia. The parties have outlined steps to boost the transit capacity of the Northern Sea Route to no less than 50 million tonnes per year by 2030. They also discussed the development of bilateral technological cooperation in the fuel and energy sector.
It is planned to hold the next 20th anniversary meeting of the Russian-Chinese Intergovernmental Commission for Energy Cooperation, as well as the 28th regular meeting of the heads of government of Russia and China in China before the end of 2023.
