China and Russia are strengthening their energy partnership, as reported by China’s Xinhua agency, following a meeting between Chinese Vice Premier Ding Xuexiang and Russian Deputy PM Alexander Novak.
The discussions, held during the 21st meeting of the China-Russia Energy Cooperation Committee, aimed to enhance bilateral cooperation in the energy sector and optimize related policies to support new energy projects.
Vice Premier Ding emphasized the importance of deepening ties across all segments of the energy industry. This initiative is part of a broader strategy to facilitate the development and implementation of new energy projects, which would benefit both countries by improving energy security and economic ties.
Chinese Vice Premier Ding Xuexiang and Russian Deputy PM Alexander Novak
China has emerged as Russia’s largest energy client since Russia’s invasion of Ukraine in 2022. In the first half of the year, China imported 15.2 billion cubic meters of Russian gas via the Power of Siberia pipeline, surpassing Europe, which imported 14.6 billion cubic meters. This shift highlights China’s growing reliance on Russian energy resources.
Additionally, Russia has become China’s top oil supplier, with imports increasing by 24% to 107.02 million tons last year, representing 19% of China’s total oil imports. This rise pushed Saudi Arabia to second place, which accounted for 15% of China’s oil imports. The energy trade between the two nations underscores their strategic partnership in the face of shifting global alliances and market dynamics.
Beyond oil and gas, Russia and China are also discussing increasing electricity exports to China. Russia had previously boosted electricity exports to China during power shortages in 2021 but reduced them last year due to a shortage in Russia’s Far East. Future increases in electricity exports will consider the demand trends in the Far East, ensuring a balanced supply that meets both domestic and Chinese needs.
