MOSCOW, July 23. /TASS/. Russia’s energy export to China increased by 4% in 1H 2024 to $46 bln, with Moscow having ensured almost 20% of China’s energy import in value terms, Chief Executive Officer of Rosneft, Executive Secretary of the Commission for the Russian President on the strategy of development of the fuel and energy industry Igor Sechin said.
"In the first six months of this year Russia’s energy export to China amounted to around $46 bln, which is 4% higher than last year. As a result, our country ensured almost 20% of China’s energy import in value terms. As a reminder, it only stood at 13% in 2021," he told a forum.
The Sino-Russian cooperation in the energy sector is predetermined by the two countries’ geographical position and their place on the world’s energy map, Sechin said, adding that "Russia produces 11% of the global volume of liquid hydrocarbons, while China accounts for 16% of their global consumption."
Last year trade turnover between Moscow and Beijing rose by 26% to $240 bln, having seriously surpassed the $200 bln target, he noted. "The scale of the Sino-Russian cooperation in the area of oil supplies is already second to none in Eurasia. Last year Russia exported 107 mln tons of oil to China. Last year China also imported 34 bln cubic meters of natural gas and over 100 mln tons of coal from Russia," Rosneft’s chief executive concluded.