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Igor Sechin met with the Minister of Commerce of China Zhong Shan

07 June 2018

Prior to the visit of the President of the Russian Federation Vladimir Putin to China, the Chief Executive Officer of Rosneft Igor Sechin and the Minister of Commerce of the PRC Zhong Shan held a working meeting. Rosneft’s partners, which implement joint projects with Chinese companies, also took part in the meeting, including the Chairman of the Management Board of Inter RAO Boris Kovalchuk.

The parties discussed the development of cooperation in oil and gas production, oil refining, petrochemical industry and chemical utilization of natural gas, marketing of hydrocarbons, as well as opportunities for building new generating capacity and deliveries of power plant coal.

Zhong Shan expressed his readiness to give full support to mutually beneficial investment projects, which will contribute to implementation of the tasks, set by the leaders of the two countries, concerning the development of trade and economic cooperation and increasing volume of trade between the countries to 200 billion dollars a year.

The parties noted that cooperation between Russian companies and their Chinese partners has a strategic integrated nature and is gradually developing.

Notes for Editors:

The Ministry of Commerce of the PRC is responsible for the development of the general strategy of trade and economic cooperation with foreign countries. Particularly, among the functions of the ministry is the formulation of a list of spheres, in which foreign investment is encouraged, as well as approval of investment projects of Chinese companies abroad, and assignment of import and export quotas.

Rosneft delivered almost 40 million tonnes of oil to China in 2017, and 230.6 million tonnes in the period between 2005 and 2017. Rosneft is also one of the leaders in oil products supplies to China, the Company delivered 32.9 million tonnes of oil products between 2009 and 2017.

In the middle of 2017, Rosneft and Beijing Gas completed the purchase and sale deal of 20 per cent of shares in Verkhnechonskneftegaz PJSC, a subsidiary of Rosneft. Verkhnechonskoye field is one of the largest producing fields in East Siberia with developed infrastructure and access to the ESPO pipeline.

Chinese partners play an important role in the implementation of the massive construction project of the Zvezda Shipbuilding complex in the town of Bolshoy Kamen in the Far East. With Rosneft’s support Far Eastern Plant Zvezda signed a contract with Chinese company Suzhou Dafang Special Vehicle Co. Ltd. for the supply of five self-propelled heavy carriers (two carriers with the capacity of 650 tonnes each, two 320-tonnes carriers and one 150-tonnes carrier). Also with Rosneft’s support Far Eastern Plant Zvezda signed a contract with China Heavy Industry Corporation Nantong (CHIC), which, among other things, specialises in manufacturing and supplying crane equipment to the world’s largest shipbuilding yards. Chinese partners delivered a Goliath-type crane with a carrying capacity of 1,200 tonnes to the construction site of Zvezda Shipbuilding complex, as well as four cranes with a capacity of 320 tonnes and four cranes with a capacity of 100 tonnes.

A contract was signed between Far Eastern Plant Zvezda JSC, China Shipbuilding Industry Corporation (CSIC) and Qingdao Beihai Shipbuilding Heavy Industry Co., Ltd. (BSIC) for the construction and delivery of a floating transfer dock facility for Zvezda shipbuilding complex. The floating transfer dock with the carrying capacity of 40,000 tonnes will be created to ensure the construction of marine engineering facilities at the shipyard.

PetroChina-Rosneft Orient Petrochemical (Tianjin) Company Ltd implements the project of constructing and subsequently operating an oil refining and petrochemical complex in the industrial zone of Nangang in the PRC.  The capacity of the primary crude oil processing plant will reach 16 million tonnes a year, and that of the aromatic hydrocarbons production complex will be 1.4 million tonnes a year for paraxylol, with refining depth of more than 95 per cent. The project also calls for the creation of a retail network of 300 filling stations.

Rosneft Information Division
June 6, 2018