Russia and China sign oil, gas, coal and nuclear agreements

Nov 23, 2010 12:00 AM

Russia and China sealed a number of deals on oil, gas, coal and nuclear cooperation, as trade volumes between the two countries increase.
A Chinese delegation is meeting with the Russian leadership for talks on deepening technology, financial and energy cooperation.

Russia and China have been wrangling over the price of Russia's gas deliveries since 2004. Russia wants China to pay the same price as its European customers but Beijing is angling for a discount. The gap in pricing expectations is about $ 100 per 1,000 cm, Gu Jun, deputy director-general of the international department at China's National Energy Administration, said earlier.
Deputy Prime Minister Igor Sechin said earlier the issue would be resolved by next summer.

Russia, the world's biggest energy producer, is eager to increase gas supplies to the world's fastest growing major economy whose consumption is expected to soar in the next few decades.
In September, Russia and China signed a document outlining the general terms of Russia's gas supplies to China. The export contract is expected to be signed in the middle of next year and is supposed to cover 30 years. The volume of supplies is set at 30 bn cm.

A statement on the Chinese Foreign Ministry's website said Russia would start crude supplies to China through the pipeline on January 1, 2011.

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