Deeper energy co-op promotes China, Russia partnership

Substantial results

During the visit, Zhang said China is ready to work with Russia to push for substantial progress on major joint projects and to promote in-depth growth of the China-Russia relations with "substantial results of bilateral energy cooperation."

Since the two countries signed a number of land-breaking contracts in May, Zhang's attendance at the Energy Cooperation Committee meeting helped iron out details on implementing the consensus reached by the two countries' leaders.

In a substantial step forward in deepening energy cooperation, Zhang and Putin witnessed the start of construction of the Russian part of the China-Russia East Route natural gas pipeline.

Upon its completion in the next few years, the pipeline will supply 38 billion cubic meters of natural gas to China every year starting from 2018.

Zhang said the construction of the part of the pipeline within Chinese borders will start in the first half of 2015, adding that the Chinese side will cooperate closely with the Russian side to guarantee the completion and operation of the pipeline by 2018.

Zhang pointed out that China and Russia have achieved fruitful results in cooperation in the areas of oil, natural gas, nuclear energy, coal and electricity.

He also met with heads of Russia's top oil and gas companies on implementing the bilateral contracts, saying Chinese and Russian oil and gas companies would continue to work on the basis of the existing cooperative results to deepen and expand cooperation and advance the China-Russia energy cooperation for even greater achievement in line with the consensus reached by the presidents of the two countries.

During the separate meetings with Zhang, Rosneft chief Igor Sechin and Gazprom Chairman Alexey Miller said they are ready to implement the consensus between the presidents of the two countries, cooperate closely with Chinese companies to earnestly implement relevant agreements, and secure the smooth progress of joint oil and gas projects.

They also expressed readiness to continue to explore new areas of bilateral oil and gas cooperation with Chinese partners.

As he co-chaired the 11th meeting of the China-Russia Energy Cooperation Committee with Russian Deputy Prime Minister Arkady Dvorkovich, the two sides had an in-depth exchange of views on cooperation in the areas of natural gas, oil, coal, electricity, nuclear energy and renewable energy.

"The fruitful energy cooperation has helped lift the general level of practical cooperation between the two countries," Zhang said.

China has become the top trade partner of Russia in the past four consecutive years. Two-way trade volume in the first five months of this year rose 4.3 percent year-on-year to $36.8 billion.

China, Russia to start construction of joint gas pipeline	Top 10 countries with most gold reserve