China, Russia expect expanding Sino-Russian energy cooperation
22/3/2006 15:30
The Sino-Russian cooperation in energy and natural resources fields has
great potential to tap and enjoys broad prospect, said Chinese President Hu
Jintao in Beijing today.
Hu made the remarks when addressing the high-level
Sino-Russian economic forum held in Beijing.
Hu urged the two sides to
proceed from long-term perspectives and heed the other's interests when carrying
out energy cooperation.
Such mutually beneficial cooperation should boost
economic development of the two countries while maintaining the stability in the
international market, he said.
He urged the two sides to shift the
cooperation pattern from the current trade-centered mode to one focusing on
production and processing.
Russia has become one of China's major energy
suppliers. Russian President Putin said that relevant enterprises of the two
countries have agreed to study the possibility of building a branch pipeline
from Russia's oil-rich Siberia to China.
With the implementation of the
project, "the crude oil supply to China will definitely see increase," he
said.
China and Russia on Tuesday inked three deals on oil and natural gas
cooperation following the talks between Hu and Putin.
The three documents
include a principled agreement between the China National Petroleum Corporation
(CNPC) and the Russian oil company of Rosneft for forming joint ventures on
further oil cooperation.
A memorandum of understanding between CNPC and
Russia's natural gas company Gazprom for natural gas supply to China and a
summary of negotiations between CNPC and Transneft, a pipeline transport company
of Russia were also signed.
Xinhua
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