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Following the earlier this year of $400000000000 agreement, Russia and Chinasigned a second round of natural gas supply framework agreement. This makesChinese will surpass Germany to become Russia's largest natural gas customers.
President Xi Jinping 9 met with Russian President Dmitry Putin, signed jointlysigned a series of bilateral agreements, including the "Sino Russian pipeline fromWest about through the Russian Federation to the people's Republic of China to supply natural gas cooperation memorandum", "Chinese Petroleum Corporationand the Russian Gas Industry Company about the West since Russia Russian the supply of natural gas to Chinese framework agreement". So far, China and Russiare signed energy deals, western line natural gas pipeline landing.
China Petroleum Corporation and Russia's Gazprom (Gazprom) agreement,Russia will from western Siberia through the Altai pipeline to supply additional30000000000 cubic meters of natural gas to China every year, for a period of 30 years. Gazprom chief executive Alexey Miller said, according to the partial contentin the oil group in the agreement, Russia may be in 4~6 years, began to supply gas to China.
Prior to May, China and Russia signed a $400000000000 agreement, GazpromChinese supply 38000000000 cubic meters annually to the East Siberia gas. Theprotocol number in 30000000000 cubic meters of less than the last, the specific price is not clear.
The two protocol has signed together accounted for China before 2020consumption 17%, Nomura Securities Hongkong area energy research director Gordon Kwan said.
According to PetroChina site, when the new signing a gas deal began operation,Chinese will surpass Germany to become Russia's largest natural gas customers.
Chinese President Xi Jinping at yesterday's meeting that the continued growth of Sino Russian bilateral trade and mutual investment, and east natural gas pipelineand the thing two line supply increasing crude oil and a number of large projectscooperation has made important progress, the two countries in international affairs, coordinate and cooperate more closely and effective. Putin said, we arevigorously promoting the Sino Russian comprehensive strategic partnershipdevelopment, deepen energy cooperation in political dialogue, economic and trade cooperation is progressing smoothly, more tangible achievements.
Because of the relationship between Russia and the United States and Europe as a result of the Ukraine crisis, Russia to rely on China to boost its economic growth.Russia this year end gas supply negotiations with China for more than 10 years,struck a deal in May.
Xi Jinping met during the APEC Congress, Putin said, "this year, I am with you to maintain close communication, the development of China Russia relations to strengthen top-level design and strategic guidance, cultivation of Sino Russianfriendly cooperation evergreen tree, we reap rich fruits."
Professor Lin Boqiang of Xiamen University China Center for energy economics research said that the first round of the agreement will make Russia economically and politically more dependent on china. China may be the world only a financial and market countries can long-term stable consumer Russia's energy exporthuge.
Putin will also have the opportunity to Europe and the United States to prove that Russia will not be isolated because Ukraine event.