MOSCOW, May 19. /TASS/. Russia and China discussed the possibility of Chinese companies’ entering Russian oil and gas projects, these negotiations will continue, Russian Deputy Prime Minister Alexander Novak told reporters.
When asked about possible involvement of Chinese companies in oil and gas production projects in Russia he replied: "A meeting took place, we discussed this issue. Negotiations will continue."
Novak explained that the negotiations take time.
"There are ongoing contacts between our companies on all commercial relations. I hope that additional agreements will be reached," he said.
In early May, Chinese President Xi Jinping visited Russia, where he met with Russian President Vladimir Putin. After the meetings, Novak told reporters that Russia and China had made progress in negotiations on the Power of Siberia 2 gas pipeline, and that Chinese companies were also interested in the Ust-Luga LNG project, with their share to be determined during consultations. According to Novak, Russia will increase oil, pipeline gas and LNG supplies to China in 2025 compared to 2024. Energy Minister Sergey Tsivilyov reported that Chinese companies were exploring the possibility of participating in Novatek's new LNG projects.