Russia will honor pipeline deal with China: PM

Home>>Business

Last updated at: (Beijing Time) Saturday, September 27, 2003

Russia will honor pipeline deal with China: PM

The Russian government is to live up to its commitment and abide by the agreement reached on the construction project of the oil transmission pipeline between Russia and China, Russian Prime Minister Mikhail Kasyanov said Wednesday in Beijing.

DISCUSSION

CHINESE

SEND TO FRIEND

Russian Prime Minister Mikhail Kasyanov said Wednesday the Russian government would honor its commitments and abide by the agreement reached on the construction of the oil transmission pipeline between Russia and China.

Kasyanov said at a joint press briefing after formal talks with Chinese Premier Wen Jiabao that the cooperation in oil and natural gas was a priority in economic cooperation, and the two sides exchanged views fully during his visit.

He reiterated the commitments Russia made in meeting China's needs of oil and natural gas during the talks, and the Russian side "will live up to the commitments".

The cooperation in oil and natural gas area was being implemented vigorously, said the Russian prime minister.

Russia and China reached consensus in 2001 to build an oil transmission pipeline from Angarsk, near Lake Baikal in eastern Siberia, to Daqing in northeast China. Technical assessments have been completed.

However, some Russian oil companies put forward a new plan late last year to pump oil from Angarsk to the Russian Pacific port of Nahodka. The Russian government decided last March in principle to adopt a compromise plan, comprising a main pipeline from Angarsk to Nahodka and a branch pipeline to Daqing.

Upon completion, the pipeline will be able to annually transmit 50 million tons of crude oil to Japan and the Republic of Korea, and another 30 million tons to Daqing by 2010.

Kasyanov said the Russian side was still studying the details of the project, including the specific route and plan, and would make a decision soon.

The original two plans "did not give enough consideration" to the protection of the environment near Lake Baikal, he said, and so the plan had to be revised, which would take three to four months.

Chinese Premier Wen Jiabao said there was more common ground than disagreement.

"We both agree that cooperation in the oil area is the most important part of economic cooperation, that pipeline transmission is the best way to transmit oil, and that the two sides should keep their agreements and commitments," Wen said.

Wen said the project had a good foundation after about 10 years of study and deliberation.

"The plan is practical and viable and serves the fundamental interests of our two sides," Wen said. "We believe that so long as the two sides take the broad situation into consideration, in a spirit of mutual respect, equality and benefit, and communicate closely, the problems will be resolved."

Sino-Russian summit significant to ties, joint communique

Premier Wen Jiabao and Russian Prime Minister Mikhail Kasyanov said Wednesday that the Sino-Russian summit in May this year was significant to the steady growth of bilateral ties.

The two heads of government made the remarks in a joint communique issued after the eighth regular meeting of Chinese and Russian prime ministers.

Chinese President Hu Jintao reached consensus on a number of key issues with Russian President Vladimir Putin during the summit in May.

"The two governments will make concerted efforts to actively implement the consensus and agreements reached by the heads of state for new achievements in bilateral cooperation in all fields," the communique says.

After the seventh regular meeting of Sino-Russian prime ministers in Shanghai in August of 2002, the two countries made progress in trade and cultural areas.

The communique says China and Russia saw a record trade volume in 2002 and new breakthroughs could be made this year. Meanwhile, the two countries made concrete progress in cultural and people-to-people exchanges, consolidating the social and spiritual basis for the Sino-Russia strategic partnership of cooperation.

The two countries also expressed willingness in the communique to expand cooperation in political, economic and trade, scientific and technological, and cultural areas, as well as in dealing with pressing international issues.

Kasyanov was here to attend the regular China-Russia prime ministers' meeting and the prime ministers' consultation of the Shanghai Cooperation Organization.

Questions?Comments? Click here

Beijing Sends Official Delegation to Lobby Moscow on Oil

Old Rivalry Flares as China, Japan Vie for Russian Oil

'Angarsk-Daqing Line' Adopted for Priority Construction

Revaluation of Japanese Yen, a historical lesson to draw: analysis ( 6 Messages)

Russia will honor pipeline deal with China: Russian PM ( 2 Messages)

China to build world's largest campus computer grid ( 3 Messages)

Taiwan authorities condemned for tampering with history ( 3 Messages)

China in dire need of its own brands: news analysis ( 2 Messages)