Huge contract between Russia and China in the field of energy

Russian state-owned oil company Rosenft has signed a $ 80 billion ten-year contract to supply oil to China’s national oil company CNPC

Russian state-owned oil company Rosenft has signed a $ 80 billion ten-year contract to supply oil to China’s national oil company CNPC. This is 100 million tons of oil, or 200,000 barrels a day.

PORTNEWS reports that according to official reports the oil will be transported through Kazakhstan to refining facilities in Xinjiang province in China along with other shipments of Russian oil to China. Transneft, the operator of the Russian oil pipeline, shipped 40 million tonnes of oil from Russia to China last year, or about 800,000 barrels a day.

The new agreement will not affect the supply of 80 million tons of oil per year transported to China by the Eastern Siberian-Pacific pipeline, through which oil is transported directly to China, as well as the passage of oil from the Russian port of Cosmino in the Far East, not far from the Russia-China border. China has also signed a 20-year agreement to supply Iranian oil to China.

It is also reported that China is negotiating with GULF CORPORATION to transfer oil and gas to China and India in the northern route, the Arctic Ocean route.

Rosenft is building a huge facility on the Siberian Peninsula in Siberia, which will include two airports and 15 industrial cities. Another project of the state gas company Gazprom is the construction of a “Siberian Force 2” facility for the transfer of oil from Russia to China via Mongolia.

Why is the EU worried about Russian oil transfer agreements to China? The answer is that China is no longer an export market for American oil, and the US must find new export targets for itself. There is also a danger that due to the Ukraine crisis the Nordstream 2 gas pipeline between Russia and the EU countries will not operate.

By Editor

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