Support The Moscow Times!

Russia-China Energy Trade to Quadruple By 2025

Energy trade between Russia and China could quadruple by 2025, consulting firm Wood Mackenzie forecasts.

In a report released last week, the firm said Russia could be selling more than 100 million metric tons of oil to China within 12 years.

Wood Mackenzie said the two countries had already reached an agreement for the supply of oil, coal and power and expected a more difficult deal would be struck in the next two years on the supply of natural gas.

Keen to secure the large volumes of energy that neighboring Russia can provide, China is providing financing to underpin much of the required infrastructure costs like it did for the Eastern Siberia Pacific Ocean pipeline.

The recent acquisition of a 20 percent stake in Russia's Yamal LNG project by China National Petroleum Corporation is seen as a symbol of increasing cooperation between the two countries.

Wood Mackenzie warned, however, that negotiating the future terms of cooperation between Russian and Chinese companies could prove more difficult.

"If large projects are to be realized, Russia may have to allow deeper Chinese involvement, for which there is little historical precedent," Ian Thom, the company's head of Russia upstream research, said.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more