On June 1, 2012, Chinese representative to the China-Russia energy negotiation and Vice Premier Wang Qishan held the eighth meeting with Russia's new representative to the negotiation and Deputy Prime Minister Arkady Dvorkovich in the Great Hall of the People. In a friendly atmosphere, the two sides exchanged views frankly and reached broad consensus, achieved new positive results of the bilateral energy cooperation and made full preparations for the meeting between the two heads of state to be held in Beijing.
Wang said that energy cooperation is an important part of the comprehensive China-Russia strategic cooperative partnership. Pushed by the two heads of state and prime ministers, the China-Russia energy negotiation mechanism has effectively boosted the bilateral energy cooperation, gained fruitful results of cooperation in the fields of oil, natural gas, nuclear energy, electricity and coal and played an important role of promoting the economic and social development and improving people's livelihood of both countries. It fully reflects the strategic, comprehensive and long-term nature of China-Russia cooperation.
He noted that at present China-Russia energy cooperation faces key opportunities. The two sides should earnestly implement the consensus reached by their leaders, bring the bilateral energy cooperation to a new level and create greater benefits to the two peoples. Russia has rich natural gas while China has huge market potential. The two countries should unswervingly push forward natural gas cooperation from a strategic height. Last year, the crude oil pipeline between China and Russia transported 15 million tons of oil, becoming the landmark project of China-Russia energy cooperation. China and Russia should further expand crude oil trade and strengthen integrated oil cooperation in the upstream and downstream sectors. China should participate in the development of upstream projects of Russia and Russia can cooperate in China's downstream refineries. The two sides should continue to deepen nuclear energy cooperation and promote cooperation on the 2nd phase of Tianwan, the demonstration fast reactor, the experimental fast reactor, the nuclear fuel, the floating nuclear power plant and space nuclear power. China is willing to continue to support enterprises of both countries to cooperate in the fields of coal trade, integrated development of coal resources, coal to oil and coal mine construction contracting. Russia boasts abundant electricity resources in the Far East and Eastern Siberia region. China will continue to encourage enterprises to import electricity from Russia and effectively push foward the bilateral grid cooperation. The two sides should further deepen cooperation on energy efficiency, biomass and hydropower.
Dvorkovich said that Russia-China energy cooperation is a critical area of the bilateral economic cooperation. The two sides have actively conducted cooperation according to the consensus reached by leaders of both countries and the majority of the agreement entered into at the seventh meeting of energy negotiators has been implemented. The two countries enjoy tremendous potential of cooperation in the fields of natural gas, oil, nuclear power, coal, electricity and renewable energy. Russia regards China as a long-term stable energy consumer market and expects to further promote the bilateral cooperation in key areas.
After the meeting, Wang Qishan and Dvorkovich jointly signed the minute of the eighth meeting.