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Ambassador: Energy sector remains backbone of Russia-China economic ties

February 08, 2017, 9:44 UTC+3 BEIJING
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BEIJING, February 8. /TASS/. The energy sector will continue to be a key area for trade and economic cooperation between Russia and China in the foreseeable future, Russia’s Ambassador Extraordinary and Plenipotentiary to China, Andrei Denisov, told Russian reporters on Wednesday.

"Energy cooperation is the backbone of the economic part of the entire array of our relations with China," the diplomat said. "Supplies of products related to energy one way or another, I have in mind raw materials and processing products, are significantly higher than half of our exports to China, and this proportion will be preserved in the foreseeable future," he explained.

The diplomat noted that, in addition to the traditional oil and gas supplies, the two sides are also considering other aspects of cooperation. "There are some new interesting projects in the energy sector. One of them is Yamal LNG. There are other projects too. We cooperate not only in the field of oil and gas, but also in the field of coal. Russia is one of its major suppliers to the Chinese market," Denisov said.

"There are prospects in the field of electric power industry, even though everything is not so simple here. A lot depends on the fluctuations of the economic situation in China. However, this is a natural process, which should be taken into account while planning supplies," he emphasized.

The diplomat added that Russian and Chinese companies are in talks to increase the degree of processing of raw hydrocarbons, in particular, coal gasification and manufacture of chemical products on the basis of raw hydrocarbons for supplies to Russia, China and third countries.

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