Russia, China agree to strengthen stability of energy markets, deepen cooperation between energy sector companies, continue NPP projects

BEIJING. Nov 5 (Interfax) - Russia and China will continue the construction of the Tianwan Nuclear Power Plant and the Xudapu Nuclear Power Plant, according to a joint communique issued following the 30th regular meeting of the Russian and Chinese heads of government.

"The parties agreed to continue implementing projects for constructing the Tianwan NPP and the Xudapu NPP, ensuring the timely completion of construction work and the commissioning of the facilities," the document said.

On this basis, Russia and China intend to deepen cooperation in peaceful nuclear energy, consistently advance cooperation in nuclear fusion, fast neutron reactors and the closed nuclear fuel cycle, and explore, based on the principles of mutual benefit and a balance of interests, cooperation in the form of package agreements in the initial stage of the nuclear fuel cycle and the joint construction of new NPPs.

According to the communique, the sides highly appreciate the results of Russian-Chinese cooperation in the energy sphere, confirm their intention to continue unlocking its potential, expand a comprehensive energy partnership and strengthen the comprehensive, broad-sector and deep-level nature of bilateral energy interaction. The countries intend to jointly uphold national, regional and global energy security and contribute to ensuring universal access to affordable, reliable, sustainable and modern energy sources, as well as a fair and balanced global energy transition.

Russia and China agreed to support the deepening of cooperation between their countries' companies in oil, gas, coal and electricity, promote the strengthening of energy infrastructure interconnectivity, and jointly ensure the safe and stable operation of cross-border energy routes. They will also develop interaction in such advanced technological areas as renewable energy sources, low-carbon energy, hydrogen energy and energy storage, as well as carbon capture, utilization and storage systems.

Russia and China also agreed to strengthen the stability of global energy markets and expand dialogue between energy-producing and energy-consuming countries. They will advocate for ensuring open, competitive, non-discriminatory and free energy markets, the document said.