Russia, China moving towards strategic energy alliance – President Putin

May 20, 2014 in News by RBN Staff

Source: Voice of Russia

Russian President Vladimir Putin said he believes the contract for the supply of gas to China will enable Russia to diversify its pipeline routes and will help China reduce its energy deficit. “We are consistently moving towards the formation of a strategic energy alliance,” Putin said. Simultaneously, “active work is being done to reduce the dependence of bilateral trade on external economic factors.”

“The agreements on the export of Russian natural gas to China are in a high degree of readiness. Their implementation will mean diversification of pipeline routes of gas supply for Russia and will help our Chinese partners reduce their energy deficit and boost environmental security by using ‘pure’ fuel,” Putin said in an interview with the leading Chinese media before his visit to China.

Having pointed out the successful energy cooperation between Russia and China, Putin recalled the implementation of a large-scale project for supplying crude oil to China via the Skovordino-Mohe pipeline, which is worth over $60 billion.

“For this reason, special attention is given to the breakthrough sectors such as boosting energy efficiency, environmental protection, production of medications and medical equipment, development of new information technologies, and nuclear energy and space to improve trade and economic cooperation,” Putin said.

The Russian president said a number of joint projects in forty priority areas, in which some $20 billion is invested, are now being implemented.

“We have reached an agreement on joint development of a wide-body long-haul plane. We also plan to create a heavy helicopter. I am confident that our companies are capable of manufacturing competitive products and supplying them to world markets,” Putin said, Interfax reports.