China, Russia to boost energy ties

Chinese Vice Premier Wang Qishan said Sunday that Sino-Russian energy cooperation has entered a new stage of long-term and strategic cooperation.

Wang made the remarks while co-hosting the fifth round of Sino-Russian energy negotiators' meeting with Russian Deputy Prime Minister Igor Sechin in Beijing.

Wang said the two countries should continue their energy cooperation in such areas as oil, natural gas, nuclear power and electricity, and seek solution to the existing problems so as to lift the energy cooperation to a new level.

"China and Russia have witnessed a series of important fruitful achievements in energy cooperation this year," said Wang.

In April, China and Russia signed inter-government agreements on oil cooperation in Beijing, and the two countries signed a memorandum of understanding (MOU) on natural gas cooperation in June, said Wang.

Wang said the China-Russia oil pipeline project is going smoothly and the loan China pledged to Russia has also been implemented.

"I would like to make joint efforts with you to implement the consensus reached by the leaders of our two countries, strive for more pragmatic fruits in energy cooperation, and make preparations for the upcoming 14th China-Russia Prime Ministers' Meeting," said Wang.

Sechin said Russia-China energy cooperation has made new progress as bilateral relations move forward in a comprehensive and rapid manner.

The energy cooperation complies with the fundamental interests of both countries, and enjoys huge potential and bright prospects, said Sechin, pledging to work with China to expand crude oil trade and make new achievements in cooperation in the energy sector.

The construction on the China section of an oil pipeline from Russia's Siberia started in May.

The 1,030-kilometer-long pipeline runs from Skovorodino, Russia, to China's northeastern city of Daqing.

The pipeline is expected to be put into operation by the end of 2010 and transport 15 million tonnes of crude oil annually from Russia to China between 2011 and 2030.