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During the meeting, the parties discussed the current interaction of countries in the energy sector, and also identified promising directions for its development in the fuel and energy sector.

18th meeting of the Russian-Chinese Intergovernmental Commission on Energy Cooperation

Deputy Prime Minister of the Russian Federation Alexander Novak and Deputy Prime Minister of the State Council of the People’s Republic of China Han Zheng held the 18th meeting of the Russian-Chinese Intergovernmental Commission on Energy Cooperation. The event took place in the year of the 20th anniversary of the signing of the bilateral Treaty on Good Neighborliness, Friendship and Cooperation between the two states.

During the meeting, the co-chairs considered topical areas of cooperation between the two countries in the fuel and energy sector, exchanged proposals for its development, and also identified areas for further interaction, noting broad prospects for development.

The Intergovernmental Russian-Chinese Commission on Energy Cooperation continues to play an important role in the development of bilateral cooperation between states, Alexander Novak emphasized during the meeting. “Thanks to joint efforts, cooperation in the energy sector is progressively developing and has reached an unprecedented high level. The dialogue is complemented by the well-coordinated work of diverse formats. Our countries are confidently overcoming the negative consequences of the epidemic and are successfully solving the problem of returning cooperation to the growth trajectory. Last year, bilateral trade amounted to 104 billion US dollars, ”the Deputy Prime Minister said.

Federation Alexander Novak at the 18th meeting of the Russian-Chinese Intergovernmental Commission on Energy Cooperation

At the same time, more than a third of the total trade and economic turnover continues to be occupied by the fuel and energy complex, which plays a key role in cooperation between Russia and China, stressed Alexander Novak.

“The dynamics of our work is encouraging. Russia is the leading supplier of crude oil to the PRC – in 2020, exports amounted to 81.7 million tons, this year the volume of natural gas supplies has already exceeded 12 billion cubic meters. m only along the eastern route. The leading oil and gas companies of Russia are showing interest in developing relations with the Chinese side. In the oil and gas sector, large joint projects are being implemented, such as Udmurtneft, Yamal LNG, Arctic LNG 2, ”the Deputy Prime Minister said.

Thanks to the joint efforts of the countries, as of the end of October 2021, 12 billion cubic meters were pumped along the eastern route. meters of natural gas from Russia to China, Han Zheng said at the meeting. “This testifies to the stable nature of the partnership between our countries. Active consultations are underway on other projects as well, ”he added.

It was noted that in the oil and gas sector, significant potential is concentrated in the part of joint exploration and development of Russian oil and gas reserves both onshore and on the continental shelf of the country, the continuation and development of oil transportation from Russia to China in 2022 along the Far Eastern routes, natural gas supplies and its processing, as well as LNG and production of petrochemical products in the east of Russia. Separately, the parties drew attention to the successful work on the gradual transition to mutual settlements in national currencies when refueling airlines at Russian and Chinese airports.

At the same time, the interaction of countries in the coal sector is expanding, which is reflected in the continued growth of coal supplies to the Chinese market. In 2020, despite the unfavorable external environment, coal supplies increased to 39.5 million tons – by 20.6%. “We are in favor of a further increase in coal supplies, in connection with which new long-term contracts will be worked out, as well as the joint development of coal deposits in Russia, in particular the Zashulan coal deposit in Transbaikalia,” said Alexander Novak.

As regards the power grid complex, the parties agreed to preserve the stable functioning of the Russian-Chinese cross-border lines and to develop power engineering. The parties also expressed support for the continuation of cooperation in the field of renewable energy, hydropower and hydrogen energy. The development of the PRC atomic sphere with the participation of Russian technologies, the ongoing construction of the Tianwan NPP and the Xudapu NPP, a demonstration fast neutron reactor, were discussed separately. The importance of deepening cooperation on standardization was also emphasized.

In addition, the parties discussed the preparation of the Russian-Chinese energy business forum, scheduled to be held online on November 29 this year.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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