China, Russia to expand energy cooperation

BEIJING -- China and Russia on Tuesday pledged to expand energy cooperation in projects of oil and gas supply, nuclear energy and renewable energy.

Chinese Vice Premier Zhang Gaoli and Russian Deputy Prime Minister Arkady Dvorkovich co-chaired the tenth meeting of China-Russia energy cooperation committee in Beijing, which agreed to advance cooperation in a number of energy sectors.

Noting that energy cooperation is a key area of China-Russia cooperation, Zhang said he hoped to advance discussion on existing projects and find new sectors for cooperation through the committee's effort.

"China is willing to expand all-around energy cooperation with Russia. We hope the two sides can work together to ensure the increase of Russian oil supplies to China, expand cooperation in upstream oil projects and set a refinery joint venture in Tianjin as a pilot project," Zhang said.

He said China also hopes to work with Russia on natural gas and nuclear energy projects, increase coal and electricity import from Russia, and expand cooperation in fields of renewable energy and energy efficiency.

"The Chinese leadership attaches great importance to developing the  comprehensive relations of strategic cooperation and partnership with Russia," Zhang said, adding that energy cooperation is an important component of their partnership.

The China-Russia cooperation is highly complementary in terms of resource, market and technology, which means huge potential, Zhang said.

Dvorkovich said Russia is ready to work with China to take advantage of each other's competitiveness and achieve new cooperation in energy sectors.