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Russia sees prospects for implementing new projects to supply oil to China — Novak

The Power of Siberia-2 gas pipeline has also remained relevant for many years, the Russian deputy prime minister added

MOSCOW, June 17. /TASS/. Russia sees prospects for implementing new infrastructure projects to supply Russian oil to China due to mounting demand for this energy resource in the country, Russian Deputy Prime Minister Alexander Novak said in an interview with the Vedomosti newspaper.

"OPEC projects that China’s oil demand will grow by an average of 2.5% per year in 2023-2050. Against this background, the implementation of new infrastructure projects appears to be an important part of the area of interests of China’s fuel and energy sector," he said.

The Power of Siberia-2 gas pipeline has also remained relevant for many years, Novak added.

"Russia, as a leader in terms of natural gas reserves (currently totaling 63.4 trillion cubic meters), remains one of key suppliers of this fuel to China. In this respect, the Power of Siberia-2 project obviously remains relevant," he said.

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China Alexander Novak

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