Russian-Chinese cooperation in the field of oil supplies is unique for Eurasia, said Igor Sechin, Executive Secretary of the Presidential Commission for the Strategy of Development of the Fuel and Energy Complex and Environmental Safety, CEO of Rosneft.

He recalled that following the recent talks in China between Russian President Vladimir Putin and Chinese President Xi Jinping, the goals were set to strengthen the Russian-Chinese strategic partnership in the energy sector and develop it at a high level in the interests of ensuring the economic and energy security of both countries.

The agreements reached by the leaders of Russia and China on the development of market-based cooperation in the fields of oil, natural gas, liquefied natural gas (LNG), coal and electricity are being successfully implemented.

"Last year, trade turnover between our countries grew by 26 per cent to $240 billion, significantly exceeding the target of $200 billion. Russia's exports of mineral fuels to China accounted for $95 billion of this total. The scale of Russian-Chinese cooperation in oil supplies is unparalleled in Eurasia," said Igor Sechin.

Last year, Russia exported 107 million tonnes of oil to China. Also last year, China imported 34 billion cubic metres of natural gas and more than 100 million tonnes of coal from Russia.

"I believe that the next stage in the development of our relations should be aimed at strengthening cooperation with Chinese colleagues along the entire value chain in energy and related areas, including the development of advanced technologies, machine building, modern shipbuilding, industrial equipment supplies, alternative energy, emission reduction and R&D," the head of Rosneft said at the opening of the 6^th Russia-China Energy Business Forum.

Rosneft
Information Division
July 23, 2024