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Russia is holding leading positions in terms of crude oil exports to China and managed to boost supplies by 27.4% year-on-year in 2018. Russian Minister of Energy Alexander Novak said adding that the country is also a leader in export of electricity to China.
On Wednesday. Novak participated in a meeting between Russian President Vladimir Putin and Chinese President Xi Jinping. which was held at the venue of the BRICS summit.
`Russia has become a leading supplier of crude oil to China – it supplied 67 million tonnes in 2018. which is worth more than $35 billion. This is a growth of 27.4% in comparison with 2017. Coal exports in 2018 amounted to 27.6 million tonnes. which 7.6% more than in 2017. We are also a leader in exporting electricity to China. In 2018. electricity exports amounted to 3.1 billion kWh.` the Energy Minister said as quoted in a statement on the ministry’s website.
Novak marked the development of relations between Russia and China at the corporate level. `Novatek. Rosneft. Gazprom Neft. Transneft. and Sibur Holding are interested in developing relations with the Chinese side. Large joint projects are being implemented. such as Yamal LNG with the participation of Chinese investors. The development of the oil and gas provinces of the Arctic also presents great prospects for the development of Russian-Chinese cooperation.` the minister said.
According to Novak. there is every reason to talk about `the formation of the Russian-Chinese energy alliance.`
In particular. the Energy Minister praised the results of the work done on the Power of Siberia gas pipeline project. where supplies are scheduled to start in December 2019.
