Chinese Vice-Premier Zhang Gaoli and Deputy Prime Minister of Russia Arkady Dvorkovich agreed to expand energy cooperation between the two nations. Zhang and Dvorkovich made the remarks when co-chairing the 14th annual meeting of the China-Russia Energy Cooperation Committee. During the meeting, both sides exchanged views on pushing cooperation in natural gas, oil, electric power, coal and new energy. China and Russia agreed to promote major strategic cooperation programs in the energy sector, accelerate energy equipment cooperation and enhance standard docking in energy cooperation.
JUMORE Reviews
China and Russia are both large consumers of bulk commodities such as energy resources and thus have great potential for energy cooperation. Russia used to take oil and gas resources as an important bargaining chip for its politics and diplomacy, but the market condition has changed a lot, turning Russia's attitude towards China in the fields of oil and gas exploration and production. China and Russia who have a lot of common interests will work with each other in energy and other areas in a closer and diverse manner. Although the energy cooperation of the two sides is mainly led by the governments at present, it is foreseeable that, with the deepening of the cooperation, private capital is expected to be introduced in the future to speed up those cooperation.
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