Share of Russian-Chinese payments in national currencies passes 90%, energy supplies at record high

MOSCOW. May 14 (Interfax) - The proportion of payments between Russia and China in their national currencies is already over 90%, Russian presidential aide Yury Ushakov told journalists ahead of Russian President Vladimir Putin's visit to China.

"It is very important to note that the share of payments in our national currencies is increasing. It already exceeds 90 per cent. During talks we will continue to discuss cooperation on finance and investment. The portfolio of our investment intergovernmental commission contains over 80 joint projects worth some $200 billion," Ushakov said.

In addition, "last year saw record-breaking deliveries of oil, pipeline gas, LNG [liquefied natural gas] and coal to China," he said.

"Of oil, 101.6 million tonnes were delivered, an increase of 14%. Pipeline gas, 22.7 billion cubic meters. LNG, 9.4 million tonnes, and 101.6 million tonnes of coal. The Skovorodino-Mohe Oil Pipeline is fully loaded. Supplies through the Power of Siberia gas pipeline have exceeded the contractual obligations. Next year we expect it to reach full capacity, at 38 billion cubic meters," Ushakov said.

"The construction of a Far Eastern gas route is going to schedule. Naturally, new energy initiatives will also be discussed at talks," the aide said.