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China, Russia pledge to enhance energy co-op

China and Russia have reached consensus on further strengthening energy cooperation, according to a senior Chinese official.

Chinese Vice Premier Wang Qishan said consensus was reached during the 9th China-Russia energy negotiators' meeting he co-chaired with Russian Deputy Prime Minister Arkady Dvorkovich on Wednesday.

Wang said in the field of oil, the two countries agreed to actively boost cooperation and increase the scale of crude oil trade on the basis of the existing pipelines.

Meanwhile, both sides pledged to make an oil refinery plant in Tianjin a landmark project combining safety, sustainability and profitability, Wang added.

They also exchanged views in the field of natural gas to consolidate mutual understanding and trust, which will provide a solid foundation for further cooperation, Wang said.

Based on actual needs, the two countries should give priority to the construction of the east natural gas pipeline and actively probe cooperation on the west pipeline, he said.

The two sides officially signed an inter-governmental protocol on the second phase of the Tianwan nuclear power plant project and agreed to beef up cooperation in nuclear energy. They also vowed to broaden and deepen cooperation in coal, electricity, energy efficiency and renewable energy.

Wang said China-Russia energy cooperation is of crucial importance to both sides, expecting that the two nations will make full use of the energy negotiation mechanism and continuously yield fruitful results in safe, stable and sustainable energy cooperation.

Energy cooperation between the two sides is strategic, long-term and all-round and is an important component of the China-Russia comprehensive strategic partnership of coordination, he said.

Since the establishment of the China-Russia energy negotiation mechanism in 2008, the two countries have held eight official meetings and two working meetings, which facilitated bilateral energy cooperation and generated fruits.

In recent years, the two sides have made great achievements and maintained momentum in bilateral cooperation in such areas as crude oil, gas, nuclear energy, coal and electricity and energy efficiency, he said.

Dvorkovich highlighted the significance of China-Russia energy cooperation. The two sides exchanged views on strengthening comprehensive cooperation in oil, natural gas, nuclear energy among other areas, and specified cooperation priorities and major projects, he said.

On the base of the achievements reached by the two sides following this meeting, enterprises from the two countries will seal more deals, he added.

There are no obstacles hindering bilateral ties and cooperation, Dvorkovich said, adding that Russia is willing to further facilitate China-Russia cooperation in various fields and elevate the comprehensive strategic partnership of coordination to new heights.

Following the meeting, both Wang and Dvorkovich attended the signing ceremony of cooperative agreements between the two governments.

Wang also met Rosneft CEO Igor Sechin on Tuesday. The two sides exchanged views on China-Russia energy cooperation, especially in the field of oil.

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