China and Russia have signed agreements to boost their energy cooperation, including a Memorandum of Understanding (MOU) to develop a second route to supply China with Russian natural gas.
Xi Jinping, Chinese president and Vladimir Putin, his Russian counterpart, witnessed the signing of a series of bilateral cooperation agreements, including an MOU of the China-Russia west route natural gas pipeline and a framework agreement between China National Petroleum Corporation, China’s largest oil and gas producer, and Russia’s energy giant Gazprom.
Strengthening energy cooperation is of great significance to safeguarding the two countries’ energy security, the two leaders agreed during their meeting ahead of the just concluded Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting.
The two countries have seen broader and closer feasible cooperation in new situation, according to the two leaders.
They agreed to push forward the construction of the east route gas pipeline as scheduled, launch the west route at an early date, negotiate major oil projects in an earnest manner, and discuss new cooperation projects of nuclear power and hydropower.
The two leaders also agreed to beef up cooperation in high-speed rail, high technology, aerospace and finance sectors.