Novak urges China to ensure conditions for implementing LNG projects in Russia with Chinese cos
BEIJING. Nov 25 (Interfax) - Russia is urging China to ensure the necessary conditions for implementing Russian Arctic liquefied natural gas (LNG) projects that involve Chinese companies.
Leading Chinese corporations are partners in Russia's largest LNG projects in the Arctic, Deputy Prime Minister Alexander Novak recalled at the seventh Russian-Chinese energy business forum.
"Amid external challenges it is extremely important through joint efforts to ensure the necessary conditions for their implementation," Novak said. Chinese companies are participating in Novatek's Yamal LNG and Arctic LNG 2 projects.
Novak also thanked China for maintaining stable relations with Russia. "Against the backdrop of the reconfiguration of the supply routes of Russian energy resources and anti-Russian sanctions, China is continuing to adhere to a consistent and balanced position, calling for the preservation of stable trade and economic ties in the fuel and energy sector and preventing the politicization of the international trade in energy resources. We thank our colleagues for their constructive approach and friendly attitude toward our country," he said.
"Such a line makes it possible for our countries to not only maintain the stability of Russian-Chinese energy cooperation, but also successfully expand comprehensive partnership and strategic cooperation. Major Russian oil companies' long-term contracts with Chinese partners are a guarantee that China will be reliably supplied with Russian energy resources at fair market prices," Novak said.
He also said the two countries intend to devote special attention to technological cooperation.
"China holds leading positions in the scale and pace of introduction of innovations. Integrating Chinese technologies with Russian resources will make it possible to localize the whole production chain and lower the production costs of technological solutions. Joint R&D in the area of energy storage management systems and smart storage platforms will increase the reliability and service life of batteries, as well as optimize their operation in tandem with wind and solar farms," Novak said.
He said cooperation creates a favourable environment for the establishment of export clusters. Russia can supply technological modules and raw materials, while China [can provide] serial solutions and service support.
"This will certainly strengthen both countries' energy security and give a powerful push to the development of green infrastructure in Eurasia. I'm referring, for example, to the technology of manufacturing cathode materials for lithium-ion batteries and energy storage systems, and much else," Novak said.
The departure of a number of companies from unfriendly countries and the rapid growth of the Russian economy open up new unique opportunities for investing on the Russian market, he said.
"Support of investment mechanisms, attraction of private investors, and development of consortiums in major infrastructure projects will strengthen the economic potential and investment appeal of both countries. In this regard we believe it is important to continue working together within the context of the Russia-China Investment Fund (RCIF)," Novak said.
Russia is intent on having the closest partnership with China in the energy sector in all avenues of cooperation, he said.
"This refers not only to further increasing supplies of conventional Russian energy resources to the Chinese market and attracting Chinese investments, but also Russia's participation in joint work on creating and promoting advanced, innovative technological solutions, climate technology, integration of smart energy storage management systems, cooperation in the creation of new models for regulating the energy transition and, finally, formulating joint approaches on international platforms to protect the energy security of our countries and in the interests of prosperity and further improving the living standards of our peoples," Novak said.
