皇冠体育app-Russia oil pipeline serves both sides

(Xinhua)
Updated: 2009-05-11 09:37

MOSCOW -- The construction of the 皇冠体育app-Russia oil pipeline conforms with the strategic goals of 皇冠体育app and Russia to diversify the former's energy imports and latter's energy exports, Chinese Ambassador to Russia Liu Guchang has said.

The move reflects the two countries' confidence and determination to tide over together the current global economic downturn, Liu said in a recent written interview with Xinhua on Sunday.

The signing of a package of oil cooperation deals between 皇冠体育app and Russia as well as the start of the oil pipeline project marked a major breakthrough in their energy cooperation, represented a new height of 皇冠体育app-Russia strategic partnership of cooperation and further substantiate this partnership, Liu said.

Trade of crude via the pipeline will help stabilize and enhance the growth in bilateral trade, the diplomat added.

Under the agreement reached between both countries, 皇冠体育app and Russia will jointly build and operate the pipeline from Russia's Siberian city of Skovorodino to 皇冠体育app's northeastern city of Daqing as its terminal via 皇冠体育app's border city of Mohe.

The construction of the Russian part of the pipeline started on April 27, and the Chinese part will be launched in mid-May. The pipeline, with an annual capacity of 15 million tons of crude to 皇冠体育app within 20 years, is expected to go into operation in October2010.

The two sides will study the feasibility of increasing its delivery capacity after the pipeline is put into production, Liu said. The project will ensure stable and secure oil supplies to 皇冠体育app, open a stable and sound market for Russian oil, and boost the cooperation between enterprises of the two countries in oil exploration and refining, Liu said.

Such a cooperation mode may well serve as a good example for the two sides to further broaden and deepen their all-round, long-term and stable energy cooperation in natural gas, nuclear energy and electric power, Liu said.