China, Russia pledge closer energy cooperation

BEIJING - Chinese Vice-Premier Wang Qishan met with Igor Sechin, the president of Russia's state-owned oil producer Rosneft, on Tuesday, pledging to boost energy cooperation between the two countries.

"Energy cooperation constitutes an important part of the comprehensive strategic partnership of coordination between China and Russia," Wang said, highlighting achievements made in the countries' cooperation in oil, natural gas, coal, nuclear energy and electricity, as well as trade, investment, financing and upstream-downstream integration.

Wang said oil and gas cooperation is the key to China-Russia energy cooperation, adding that it is inter-complementary, necessary and feasible for the two sides to expand cooperation.

As the two sides make joint efforts to score new breakthroughs, they are finding more common interests, Wang said during the meeting with Sechin, who is also the executive secretary of the commission on the strategic development of Russia's energy sector.

It was the second meeting between Wang and Sechin in three days.

Wang said China and Russia should take care of each other's concerns and work together to achieve more substantial outcomes in energy cooperation to benefit the people of the two countries.

Closer cooperation between China and Russia in various areas is not only conducive to the economic and social development of the two nations, but also to that of the whole world, which is facing mounting uncertainties.

Sechin said enhancing bilateral cooperation is the best choice for Russia and China in countering the ongoing international financial crisis.

Russia cherishes the comprehensive strategic partnership of coordination between the two countries and pragmatic cooperation should be adapted to the high-grade political relationship, Sechin said.

The Russian side is ready to expand all-around energy cooperation with the Chinese side, including the oil and gas trade, investment and financing, to deepen their economic cooperation and reach the $100 billion bilateral trade target set for 2015, he added.