Sino-Russian Energy Cooperation to Promote Ties

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Last updated at: (Beijing Time) Friday, May 30, 2003

Sino-Russian Energy Cooperation to Promote Ties

Joint energy projects will promote a Sino-Russian strategic partnership of cooperation, said Chinese Foreign Ministry spokeswoman Zhang Qiyue here Thursday.

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Joint energy projects will promote a Sino-Russian strategic partnership of cooperation, said Chinese Foreign Ministry spokeswoman Zhang Qiyue here Thursday.

China and Russia signed a general agreement Wednesday on the main principles and understandings for a long-term contract to supply oil to China via a China-Russia oil pipeline.

Supply will begin in 2005 and volume will be 20 million tons annually for the first five years and 30 million tons annually from 2010.

Zhang said China would work together with Russia to carry out the oil pipeline project to benefit the people of the two countries.

She said bilateral relations were very good and high-level exchanges were frequent, adding that Chinese President Hu Jintao was currently paying a state visit to Russia.

Both nations had very deep mutual trust, Zhang said, while trade volume had increased for four consecutive years and last year jumped to a record-breaking 12 billion US dollars.

Zhang said both sides believed economic cooperation had great potential.

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