MIL OSI Translation. Region: Russian Federation –
The Deputy Prime Minister delivered a report at the third Russian-Chinese Energy Business Forum. Alexander Novak spoke about bilateral cooperation between Russia and China in various energy segments, and outlined the prospects for the development of Russian fuel and energy and attracting foreign investment in the industry.
Deputy Prime Minister Alexander Novak delivered a report at the third Russian-Chinese Energy Business Forum. Alexander Novak spoke about energy cooperation between Russia and China, and outlined development prospects for Russian fuel and energy in the period up to 2035 and the principles of state regulation of foreign investment in the industry.
Fuel and energy cooperation between Russia and China has been growing fast over the past decade, and has reached an unprecedented high thanks to the joint efforts of both countries ’leaders.
“Today’s forum is a logical extension of the growth in Russian-Chinese cooperation at all levels, the aspiration of business communities to find new growth points, and to implement new ideas and projects for the benefit of the peoples of our countries. Both Russia and China are confidently overcoming the negative economic consequences of the pandemic. We can see a significant potential for expanding the partnership between Russia and China, ”Alexander Novak noted.
The Deputy Prime Minister spoke at length about bilateral cooperation in each of the energy segments. Russian oil has significantly strengthened its position in the Chinese market – oil exports to China have grown more than six-fold over the past decade. Joint development and production projects are underway – Russia’s Rosneft and China Petrochemical Corporation (Sinopec) have launched the Udmurtneft project for the production of crude oil, and natural and associated petroleum gas.
More to be posted soon.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.