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US may double supplies of energy resources to China within 3-5 years, says Rosneft CEO

Currently China’s energy import from the US is worth around $7.2 bln per year, which accounts for around 3% of China’s energy imports, Igor Sechin said

ST. PETERSBURG, May 25. /TASS/. Chief Executive Officer of Russia’s top oil producer Rosneft Igor Sechin does not rule out that US may double supplies of energy resources to China within 3-5 years.

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Rosneft CEO expects new oil price records on the market

"As you know currently China’s energy import from the US is relatively small, worth around $7.2 bln per year, which accounts for around 3% of China’s energy imports. If implemented, the US-China tentative framework deal may double supplies of energy resources from US to China within the next 3-5 years. Those agreements bring direct losses for producers of other countries, with some of them concurrently facing direct US sanctions," he said at the St. Petersburg International Economic Forum on Friday.

According to Sechin, it raises an expected question of misrepresented market mechanisms.

SPIEF-2018 runs on May 24-26. The forum’s events are held under the motto: "Creating the Economy of Trust." TASS news agency is acting as an information partner and the official photo hosting agency of SPIEF. TASS is also the operator of the zone of SPIEF’s presentations with the support of EY consulting company and the Advisory Council on Foreign Investments in Russia.

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