Wednesday, 24 Apr 2019

Putin promised will not reduce the volume of oil supply to the Chinese market


Vladimir Putin met with Xi JinpingVladimir Putin met with Xi Jinping -  During an official visit to Beijing, Russian President, Vladimir Putin met with the head of the People's Republic of China,  Xi Jinping and other representatives of the country's leadership.

The priority in negotiations was provided to strengthen the cooperation in economic, especially for energy field. 

The parties discussed about the establishment of a free trade zone between China and EEMA and the participation of Chian in the Moscow-Kazan high-speed rail project.

After the talks, the parties signed many agreements for various aspects of cooperation: from space, energy, tourism and supply of grain to China.

In the field of energy,  a large package of documents that the Russian president called as "the locomotive of business relations between the two countries"  was signed during the visit.

The 1.313 trillion ruble project provides for the construction of three lines with a total processing capacity until 24 million tons of oil and 6.8 million tons of petrochemical raw materials per year. The construction of the third phase is planned to be completed by 2028.

The Sinopec company "Rosneft" has signed a framework agreement on project preparation for the construction and operation of gas and petrochemical that processing in a complex in the eastern of Siberia. 

Sechin said, in the future, it is planned to created three oil and gas chemical complexes in Western Siberia and in the Novokuibyshevskaya region.

In addition, the Russian company also sold until 20% in Verkhnechonskneftegaz to China Beijing Gas, and the deal is also expected will done in the near future.

During all negotiations, Russia and China signed dozens of agreements on mutually beneficial cooperation. Sechin noted that Russia will not reduce the volume of oil supply to the Chinese market.


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