Chinese, Russian presidents Vow to Enhance Energy Cooperation, Sign Agreement About Gas Supplies, Ahead of APEC Summit, November 9, 2014

Chinese, Russian presidents Vow to Enhance Energy Cooperation, Sign Agreement About Gas Supplies, Ahead of APEC Summit

November 9, 2014


Chinese President Xi Jinping meets with Russian President Vladimir Putin in Beijing, capital of China, Nov. 9, 2014

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Putin Says Cooperation Between Russia, China Important for International Law, Stability

BEIJING, November 9, 2014 (RIA Novosti) -

Russia and China should stick to the existing line of cooperation, despite current geopolitical changes as it is important for the international law and stability, Russia's President Vladimir Putin said Sunday.

"Cooperation between Russia and China is extremely important for keeping the world in line with the international law, making it [the world] more stable," Putin stated during the talks with the Chinese President Xi Jinping held on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Beijing.

The Chinese leader accentuated the importance for both countries to adhere to the chosen line of cooperation, to expand and deepen it, despite the current geopolitical situation.

On Thursday Russian President Vladimir Putin said that increasing cooperation with China, including in the energy sector, is one of Russia's top foreign policy priorities.

The APEC summit is taking place this weekend in Beijing, China and will be followed by the APEC Economic Leaders' Meeting (AELM) on Monday and Tuesday next week. The two meetings will bring together 21 nations to discuss economic issues as well as joining forces to respond to the Ebola virus epidemic, the situation in Ukraine and other ongoing issues.

Chinese, Russian presidents vow to enhance energy cooperation

BEIJING, Nov. 9, 2014 (Xinhua) --

Chinese President Xi Jinping and his Russian counterpart Vladimir Putin vowed to enhance energy cooperation on Sunday.

Strengthening energy cooperation is of great significance to safeguarding the two countries' energy security, the two leaders agreed during their meeting ahead of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting slated for Nov. 10-11.

The two countries have seen broader and closer feasible cooperation in new situation, according to the two leaders.

They agreed to push forward the construction of the east route gas pipeline as scheduled, launch the west route at an early date, negotiate major oil projects in an earnest manner, and discuss new cooperation projects of nuclear power and hydropower.

The two leaders also agreed to beef up cooperation in high-speed rail, high technology, aerospace and finance sectors.

Xi has held talks or met with Putin for ten times since he assumed the office of Chinese presidency in March 2013.

China, Russia sign energy agreements

BEIJING, Nov. 9, 2014 (Xinhua) --

China and Russia signed agreements on Sunday to boost their energy cooperation, including a memorandum of understanding (MOU) to develop a second route to supply China with Russian natural gas.

Chinese President Xi Jinping and his Russian counterpart Vladimir Putin witnessed the signing of a series of bilateral cooperation agreements, including an MOU of the China-Russia West Route natural gas pipeline and a framework agreement between China National Petroleum Corporation, China's largest oil and gas producer, and Russia's energy giant Gazprom.

The two countries signed another agreement in May on the China-Russia East Route natural gas pipeline. The 30-year contract will see the pipeline start providing China with 38 billion cubic meters of natural gas annually from 2018.

"The signing of energy agreements between China and Russia is a win-win situation for both countries," said Zhou Dadi, vice director of the China Energy Research Society.

Russia's energy export to Europe is under great pressure due to the impacts of the Ukraine crisis, making it look to the east for solution, said Zhou.

To reduce its reliance on coal, China also needs to import more natural gas, he said.

The two countries have seen broader and closer feasible cooperation in new situation, according to the two leaders.

The two leaders also agreed to beef up cooperation in high-speed rail, high technology, aerospace and finance sectors.

Xi has held talks or met with Putin for ten times since he assumed the office of Chinese presidency in March 2013.

Gazprom Not Considering Attracting Advance Payment from China for Lower Gas Prices

BEIJING, November 9, 2014 (RIA Novosti) -

Russian energy giant Gazprom is not considering the possibility of attracting an advance payment from China to fund the "Power of Siberia" project, Gazprom CEO Alexei Miller said Sunday.

"We held negotiations with China regarding the advance, and [at our talks] the advanced payments served as a part of price negotiations," Miller said. "As we have reached the final agreement on price, we are not considering the possibility of attracting advance as a financial instrument for further decreasing the price," he added.

In May, Russia's energy giant Gazprom signed a contract with China National Petroleum Corporation (CNPC) to export 38 billion cubic meters of Russian gas to China annually for a 30-year period via the eastern route.

The construction of the 3,000-kilometer (1,860-mile) Power of Siberia pipeline, which will be used for the deliveries of Russian gas to China, was launched in Yakutia on September 1. Deliveries are scheduled to start in 2018.

On October 13 Moscow and Beijing have also signed an intergovernmental agreement to cooperate in the delivery of Russian gas to China via the eastern route.

Earlier on Thursday the two countries have signed the memorandum on the delivery of Russian natural gas to China via the western route and the framework agreement on gas supplies between Russia's Gazprom and China's CNPC. According to the Gazprom CEO Alexei Miller the documents provide for the export of 30 billion cubic meters of Russian gas to China annually for a 30-year period.

The western route, or the Altai pipeline, will connect fields in western Siberia with northwest China through the Altai Republic. Second and third sections may be added to the pipeline at a later date, bringing its capacity up to 100 billion cubic meters a year.

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