Moscow, Beijing have formed ‘safety network’ in energy supplies field, says Russian ambassador

BEIJING, December 12. /TASS/. Russia and China have created reliable cooperation mechanisms in the field of hydrocarbons supplies, which have served as a basis for a ‘safety network’ to be formed for successful implementation of long-term joint energy projects, Russian Ambassador to China Andrey Denisov said on Wednesday. According to the diplomat, Russia is interested "in stable supplies and their long-term nature." "The development of natural resources requires huge funds and investments, which is why such projects should be planned many years ahead. China as the world’s biggest consumer of energy resources is interested in just the same - long-term, stable and consistent supplies. The People’s Republic of China purchases energy, gas and oil from various sources, while Russia delivers its hydrocarbons to various markets as well, and a connection between us in this field is a kind of a ‘safety network’ both for Russia as a producer and exporter, and for China as a consumer and processer," he explained. Denisov believes that it is necessary to view energy cooperation as a ‘core’ of business collaboration between Moscow and Beijing. "Energy cooperation between our countries is a very promising area, and experts from both countries, China and Russia, are speaking about a Russian-Chinese energy alliance being formed," he stressed. Both sides are actively working to establish additional ties between energy companies and relevant state authorities, the diplomat said, noting that it has been decided to hold regularly the Russian-Chinese Energy Forum that took place for the first time in Beijing less than two weeks ago, with around 500 people representing almost 100 energy companies participating in it. "Next year it will be held in St. Petersburg," he added. Read more