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RUSSIA'S PUTIN EXPECTS TO AGREE CHINA GAS DEAL
Tert.am
21:23 ~U 12.10.11
Russia's Prime Minister Vladimir Putin (L) has confirmed Russia
is close to sealing an energy supply agreement with China worth $1
trillion, CNN reported.
"It's fair to say that we're very close to reach an agreement on the
natural gas deal," Putin told journalists at a joint press conference
after meeting with Chinese counterpart Wen Jiabao (R).
Putin arrived in Beijing on Tuesday for a two-day visit. He also met
with President Hu Jintao and other Chinese leaders on Wednesday.
The negotiations over the natural gas supply had stalled for more
than a year due to disagreements over price.
If an agreement can be reached, the deal would see Russia supply
China with up to 68 billion cubic meters of gas every year.
"The trade volume will increase significantly, and this will change
the fact that the economic cooperation between the two countries lags
behind the political cooperation," said Zhao Huasheng, director of
the Center for Russia and Central Asia Studies at Fudan University.
"Together with cooperation in other economic fields, China and Russia
will become real strategic partners in economic terms," he added.
Recent years have seen a steady increase in trade between the two
countries.
According to the Chinese Ministry of Commerce, bilateral trade volume
in the year to July increased by 37.4% to a record $42.2 billion. The
ministry forecasts that this will reach a new record in 2011--
possibly in excess of $70 billion.
"The economic and trade cooperation between the two countries has
reached to an unprecedented level," Putin said in an interview with
the state-run Xinhua agency.
But energy cooperation stands out as the main focus between Russia, a
major energy exporter, and China, the world's biggest energy consumer,
according to a 2010 report from the International Energy Agency.
Putin has also brought along a group of 160 Russian business leaders
for the visit, including the CEOs of Russian energy giants Gazprom,
Rosneft and aluminum producer UC RUSAL.
Tert.am
21:23 ~U 12.10.11
Russia's Prime Minister Vladimir Putin (L) has confirmed Russia
is close to sealing an energy supply agreement with China worth $1
trillion, CNN reported.
"It's fair to say that we're very close to reach an agreement on the
natural gas deal," Putin told journalists at a joint press conference
after meeting with Chinese counterpart Wen Jiabao (R).
Putin arrived in Beijing on Tuesday for a two-day visit. He also met
with President Hu Jintao and other Chinese leaders on Wednesday.
The negotiations over the natural gas supply had stalled for more
than a year due to disagreements over price.
If an agreement can be reached, the deal would see Russia supply
China with up to 68 billion cubic meters of gas every year.
"The trade volume will increase significantly, and this will change
the fact that the economic cooperation between the two countries lags
behind the political cooperation," said Zhao Huasheng, director of
the Center for Russia and Central Asia Studies at Fudan University.
"Together with cooperation in other economic fields, China and Russia
will become real strategic partners in economic terms," he added.
Recent years have seen a steady increase in trade between the two
countries.
According to the Chinese Ministry of Commerce, bilateral trade volume
in the year to July increased by 37.4% to a record $42.2 billion. The
ministry forecasts that this will reach a new record in 2011--
possibly in excess of $70 billion.
"The economic and trade cooperation between the two countries has
reached to an unprecedented level," Putin said in an interview with
the state-run Xinhua agency.
But energy cooperation stands out as the main focus between Russia, a
major energy exporter, and China, the world's biggest energy consumer,
according to a 2010 report from the International Energy Agency.
Putin has also brought along a group of 160 Russian business leaders
for the visit, including the CEOs of Russian energy giants Gazprom,
Rosneft and aluminum producer UC RUSAL.