Russian, Chinese govts support development of cross-border fuel and energy projects
MOSCOW. Aug 22 (Interfax) - The Russian and Chinese governments pledge to continue developing current cross-border fuel and energy projects and to work out new ones, a joint communique issued after the 29th regular meeting of the two countries' prime ministers said.
Chinese Premier Li Qiang paid an official visit to Russia on August 20-22.
"The sides note the significant practical results of their all-round and multi-level partnership in the energy sector, confirm their intention to facilitate its progressive expansion and consistent deepening and will ensure the further stable development of their trade in energy resources. They will take steps to create related infrastructure and will help promote the concept of fair, well-ordered and equal energy transitions based on independent and free choices and technological neutrality in forming the structure of fuel and energy balances and implementing energy and climate policy in line with their national characteristics," a statement published by the Russian government said.
"To this end, they agreed to deepen multifaceted cooperation in the exploration, production, refining and transportation of oil, gas (including LNG) and coal, support the construction and stable operations of the Russian-Chinese oil and gas pipeline, advance cooperation in natural-gas liquefaction projects, further develop electricity cooperation, and provide assistance to ongoing energy projects, including cross-border ones, and support the creation of new ones," it said.
Russia and China also plan to develop cooperation in new areas such as renewable energy sources, hydrogen energy, power storage and carbon markets.
In addition, they will promote trilateral contacts as part of the roadmap for advancing mid-term cooperation between Russia, China and Mongolia and will actively contribute to the implementation of key cooperation projects and the fulfillment of joint tasks as part of the program to create a Russia-Mongolia-China economic corridor.
Russian gas supplies to China via the Power of Siberia pipeline began in 2019. The gas pipeline is expected to reach its design capacity of 38 billion cubic meters (bcm) a year in 2025. Gazprom plans to start shipping Russian gas to China in 2027 via the Far Eastern route, which will have a capacity of 10 bcm a year. Another project, the Power of Siberia 2 pipeline, will allow Russia to annually export up to 50 bcm of gas from its West Siberian fields to China via Mongolia.