If all the energy projects come to fruition, it is expected that nearly 100 billion cubic meters of Russian gas will reach China every year from 2030, contributing to "warming" the strategic relationship between the two sides.
 |
| Russian Prime Minister Mikhail Mishustin and Chinese Premier Li Qiang. (Source: China Daily) |
Taking place ahead of the 75th anniversary of the establishment of diplomatic relations (1949-2024) and the launch of the China-Russia Cultural Year, the 28th regular meeting between the Chinese and Russian prime ministers in Beijing is an opportunity for the two sides to strengthen the strategic relationship that is defined as “boundless”.
Entering the meeting room, Chinese Premier Li Qiang and his Russian counterpart Mikhail Mishustin had much to be optimistic about. Despite the difficulties of the global economy, Sino-Russian cooperation has been developing steadily. In 2023, bilateral trade turnover will exceed $200 billion for the first time in history.
Notably, more than 90% of Sino-Russian trade is conducted in Chinese yuan and Russian rubles, helping to avoid the negative impact of Western sanctions against Russia, as well as the US-China confrontation.
With this favorable momentum, many new opportunities are opening up. However, energy is a strategic area where both sides want to expand cooperation. Currently, Russia is China's number one supplier of oil, second in coal and third in liquefied natural gas.
Through the Power of Siberia pipeline, Russia aims to supply 38 billion cubic meters of natural gas per year to China by 2025, contributing to energy security for three provinces in Northeast China, the Beijing-Tianjin-Hebei region and the Yangtze River Delta.
Next is the project to build the Power of Siberia 2 pipeline through Mongolia to China. When it becomes operational in 2030, the pipeline is expected to transport 50 billion cubic meters of gas per year, equivalent to the Nord Stream 1 pipeline from Russia to Germany, which is now out of service.
If all the energy projects come to fruition, it is expected that nearly 100 billion cubic meters of Russian gas will reach China every year from 2030, contributing to "warming" the strategic relationship between the two sides.
Source
Comment (0)