One-third of Russia's trade turnover with China comes from energy resources - government

MOSCOW. Dec 15 (Interfax) - Trade turnover between Russia and China has already exceeded $200 billion, a third of which is from trade in energy resources, the government press service said following the 20th meeting of the intergovernmental commission on energy cooperation.

Russia traditionally ranks first in oil exports to China. Shipments of pipeline gas through the Power of Siberia are increasing. Work is underway on new routes for its supply - both directly from Russia along the Far Eastern route, and through Mongolia. The implementation of all planned projects will increase the total volume of natural gas exported to China to 100 bcm, the press release says.

Cooperation on shipments of LNG and coal is also expanding. The implementation of a number of promising bilateral projects in these areas will take Russian-Chinese interaction to a qualitatively new level and lead to new record figures, the press service said.

Particular attention is being given by both partners to interaction in the nuclear sector and in the field of renewable energy sources. Strengthening partnerships in the field of electricity and cooperation in the field of renewable energy sources is being discussed.

"We are committed to the closest possible partnership with the Chinese side in the energy sector in all areas of cooperation. This implies a further increase in the supply of Russian energy resources to the Chinese market, as well as attracting Chinese investments and advanced technological solutions to the fuel and energy complex of the Russian Federation," Russian Deputy Prime Minister Alexander Novak, co-chairman of the commission, said.