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Russia, China may cooperate in Arctic energy projects — Rosneft CEO

The Russian-Chinese cooperation in the energy sector may continue in joint development of the Arctic shelves

BEIJING, November 29. /TASS/. The Russian-Chinese cooperation in the energy sector may continue in joint development of the Arctic shelves, as well as of the Russian Far East’s deposits, CEO of Russia’s biggest oil company Rosneft Igor Sechin said on Thursday.

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Protectionism, trade wars motivate Russia and China to step up cooperation — Rosneft head

"New growth points in the Russian-Chinese cooperation could be joint development of the oil and gas resources on the shelves of the Arctic and the Russian Far East, as well as development of navigation along the Northern Sea Route," he said at the First Russian-Chinese Energy Business Forum in Beijing.

According to him, quite promising is the project in the Far East on a big electric-energy complex, which will use renewable energy and coal. The complex’s key direction will be export to China. "We may also expand cooperation in petrochemical and gas processing sectors," he said. "I can see the synergy in their joint implementation is high."

The first Russian-Chinese Energy Business Forum is held at the Diaoyutai State Guesthouse in Beijing. It features about 300 representatives from Russian and Chinese energy companies. The forum’s participants take part in a few round-table meetings devoted to coal, electric energy and oil and gas sectors.

In June, 2018, during Vladimir Putin’s visit to China, the countries’ leaders agreed to establish a Russian-Chinese energy business forum.

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