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Rosneft may supply extra 4.5 mln tonnes of oil to China — CEO

September 03, 2015, 14:51 UTC+3 BEIJING
The sides will exchange assets of Chemical China Corporation that will participate in the development of the East-Siberian Oil and Gas Company in the Far east
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BEIJING, September 3. /TASS/. The amount of extra supplies of crude oil to China by Rosneft may be cut to 4.5 million tonnes instead of the originally expected 5 million tonnes due to infrastructural problems in Chinese territory, the company’s chief, Igor Sechin, said when asked by the media about the outlook for compliance with the inter-governmental agreement on the supply of 5 million tonnes of oil.

"I believe that this year some 4.5 million tonnes will be delivered via pipeline," he said, adding that amounts might be revised somewhat.

"It’s related with the lack of adequate infrastructures inside China. We have agreed with our partners we will compensate for these amounts during future periods," Sechin said. "The overall contracted amount will remain unchanged."

Investment potential of deals signed by Russia's Rosneft with China stands at $30 billion

According to Sechin, the investment potential of agreements signed by Rosneft during Russian-Chinese talks stands at more than $30 billion

"The aggregate investment potential of the signed documents is somewhere around $30 billion," Sechin said. The sides will exchange assets of Chemical China Corporation that will participate in the development of the East-Siberian Oil and Gas Company in the Far east. Rosneft will in turn receive assets of China’s petrochemical companies.

Rosneft also reached an agreement with China Chemical Corporation about supplying oil to China’s petrochemical companies - up to 4 million tons annually. "These are new volumes," Sechin said.

The Rosneft head noted the new direction of cooperation with China. "We agreed on providing drilling services, various contractor services in several industries that are developing in the Far East. The aggregate volume of services at the current level stands at around $550 million," he said.

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