China looks to cement energy ties with Russia – ambassador — RT Business News
Beijing intends to build a closer partnership with Moscow in the energy sector to jointly strengthen international energy security and the stability of industrial and supply chains, Chinese Ambassador to Russia Zhang Hanhui told RIA Novosti on Friday.
According to the diplomat, the two nations have boosted cooperation in the oil and gas sector in recent years by jointly implementing major projects, thus demonstrating the high potential to further strengthen energy ties.
Zhang emphasized Russia’s role as a leading supplier of oil to China for many years in a row. Last year, China reportedly purchased 86.25 million tons of Russian oil, which is 8% more than the previous year.
The envoy also highlighted that Russian LNG deliveries in 2022 amounted to more than 6.5 million tons, and that the annual volume of deliveries through the eastern branch of the Power of Siberia natural gas pipeline had reached a record high of 11.5 billion cubic meters.
“Since being launched, the Yamal LNG project has been operating steadily, and the implementation of the Arctic LNG-2 project has been proceeding at an accelerated pace,” he stated. “An intergovernmental agreement on gas supplies from Russia to China via the Far East gas pipeline was recently ratified, and the sides intend to start implementing this project without delay,” added Zhang.
In February, Moscow and Beijing signed an agreement for additional natural gas supplies to China via the Far Eastern Route. The project will entail construction of a cross-border section across the Ussuri River between the already operational Russian pipeline and the Chinese city of Hulin. After reaching full capacity, the route will have annual capacity of 10 billion cubic meters (bcm). The total volume of annual gas deliveries by Russian energy giant Gazprom to China is expected to increase to 48 bcm once the project is launched.
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