China and Russia are getting closer with each other, especially in the energy sector as Russia has been China's largest oil supplier for three years, pushing up the total trade volume to more than 100 billion U.S. dollars.
Cooperation in various energies
China, Japan and South Korea are major buyers of Russian oil, various long pipelines, then, are built to transport the oil from Europe to East Asia.
With more than 4,800 kilometers, the ESPO pipeline, also known as the Eastern Siberia-Pacific Ocean oil pipeline, starts from Tayshet central-south Russia to northeast China's oil city of Daqing, able to supply about 15 million tons of oil every year.
The Russian energy project, "Power of Siberia", one of the largest gas pipeline projects on the planet, will begin by the end of 2019, expected to not only meet China’s heavy demand for gas but also benefit both sides as a large amount of jobs will be created.
The Yamal LNG is China's first large-scale energy cooperation project with Russia under the Belt and Road Initiative (BRI)./ VCG Photo
The Yamal LNG is China's first large-scale energy cooperation project with Russia under the Belt and Road Initiative (BRI). China also built tankers to ship LNG through sea routes thanks to China-Russia cooperation on Arctic exploration.
Located in east China's Jiangsu Province, the Tianwan Nuclear Power Plant has four units connected to the power grid with its total capacity exceeding 4,000 megawatts. In addition, two more power plants will be built in northeast China's Liaoning Province, which will further bring clean and massive energy for China's development.
Further energy collaboration
China and Russia are poised to further deepen their energy cooperation as their top leaders both pledged provide policy support during a bilateral energy business forum in June.
As comprehensive strategic partners of coordination, China and Russia enjoy deepening cooperation in all spheres, which has forcefully promoted the two nations' common development and revitalization, Chinese President Xi Jinping said.
Describing energy cooperation as the "most significant, most fruitful and most wide-ranging" area of bilateral cooperation, Xi said the two sides' close coordination has played a positive role in safeguarding the fair, just, reasonable and orderly international energy order.
To consolidate and deepen their energy cooperation, Xi made four proposals.
Firstly, business entities should lead the cooperation and stick to the principles of mutual benefits, win-win results and being commercially viable. Financial insurance and energy cooperation should be enhanced for mutual support and mutual promotion.
Secondly, new potentials should be tapped to upgrade the cooperation. Cooperation in energy technical standard should be strengthened for mutual recognition and synergy. Technological innovation, the integration of information technology with the energy sector, and cooperation in energy research and development (R&D) should all be deepened. Experience sharing, capacity building and think tank exchanges should be enhanced for mutual learning.
The Vladimir Rusanov LNG carrier of the Arc7 class of the Yamal LNG project in the Jiangsu Rudong port in China /VCG Photo
Thirdly, the cooperation should promote the integration of interests, and aim for a more comprehensive and integrated cooperation along the whole industrial chain. The two sides should focus on the present while looking into the future, stick to complementary advantages and win-win results to expand and deepen their cooperation.
Fourthly, cooperation in global energy governance should be stepped up for the sustainable development of energy. The two sides should work together to firmly safeguard multilateralism and actively conduct multilateral cooperation to play a constructive role in the global energy governance system.
Xi said China and Russia enjoy broad prospects and tremendous potentials in energy cooperation. "I would like to work with President Putin to lead and promote our governments in creating an even better business environment for our enterprises and provide more comprehensive policy support."
He expressed belief that companies of the two countries, under the shield of the comprehensive strategic partnership of coordination for a new era, will work together to further promote their cooperation to benefit the two peoples.
Russian President Vladimir Putin said the energy business forum was jointly initiated by him and Xi last year as a platform for the two sides to explore expanding cooperation in oil and gas, electric power and renewable energy.
Energy cooperation has become an important and integral part of the Russia-China comprehensive strategic partnership of coordination, and the fastest growing area of bilateral cooperation, and it is mutually beneficial, Putin said.
The two countries have made positive progress in energy cooperation in infrastructure construction, trade, and technological R&D, Putin said, adding that important oil and gas pipelines and large-scale cooperation projects are making headway as scheduled.
"The Russian government will improve related laws, regulations and policies to create a favorable market environment for foreign companies to invest and operate in Russia," he said.
(With input from Xinhua)