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Sino-Russian energy links to expand
By Qin Jize and Wang Ying (China Daily)
Updated: 2005-11-04 05:49
China and Russia yesterday reaffirmed that the construction of a cross-border
crude oil pipeline will go ahead as per an earlier agreement and vowed to
enhance energy co-operation.
The commitment was made during discussions between
Premier Wen Jiabao and his Russian counterpart Mikhail Fradkov at the 10th
Sino-Russian Prime Ministers' Meeting in Beijing.
Premier Wen Jiabao
(right) shakes hands with his Russian counterpart Mikhail Fradkov at the
10th Sino-Russian Prime Ministers' Meeting in Beijing.
[Xinhua] |
Fradkov said that Chinese and Russian companies are conducting a feasibility
study on the oil pipeline linking Angarsk, in Russia's Siberia, and Daqing in
Northeast China's Heilongjiang Province.
A deal on the construction of the pipeline, which will pump oil from Siberia
and the Russian Far East to China, was signed in 2001.
The two leaders yesterday signed a joint statement of their 10th annual
meeting and witnessed the signing of eight agreements in various fields such as
banking.
The two neighbours have shown a strong interest in energy co-operation as it
has become an integral part of economic and trade exchanges in the Asia-Pacific
region.
Before the pipeline is completed, Russia will export oil to China by train,
which Fradkov said will reach more than 8 million tons this year. The figure is
expected to double next year.
The two countries have reached agreements on expanding co-operation to
petroleum and natural gas, including providing China with crude and refined oil
at reciprocal prices, building a natural gas pipeline network in China,
establishing a power grid in China, and jointly developing gas and oil in both
countries.
The two sides will start a feasibility study on piping gas to China from
Russia.
Niu Li, a senior economist with the State Information Centre, said the
Sino-Russia partnership in the energy sector is on a fast track.
"With governments participating, political risks for energy firms will be
greatly reduced," Niu told China Daily yesterday.
The huge market potential in China, the world's second-largest energy
consumer after the United States, is another driver for Russia to strengthen
ties with China on the oil and gas front, he said.
But he added there are some obstacles in energy
collaboration between the two nations.
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