Russia and China are currently hard at work developing energy cooperation. Russian exports to China in 2015-2017 reached USD 29, 27 and 39 billion. Two thirds of these exports were made up of oil and petroleum products. And every year the industrially developed eastern China demands ever increasing quantities of energy resources.
Chinese authorities bet on nuclear power
According to Chief Adviser to Head of the Analytical Center Leonid Grigoriev, renewable energy is rather expensive causing China to bet on nuclear power. By 2020, the share of the latter in the country's total energy balance should increase to 6%. "Russia is currently building the Tien Shan Nuclear Power Plant in China, where the third stage has already been commissioned there and work is continuing on the fourth," Leonid Grigoriev told Pronedra portal. "It is a very important project really as it regards not just construction, Russia delivers a fairly large number of blocks and components for the project. The added benefit is the training of engineers. Ultimately, it is a full range of services that are rather hard to come by in China."
The expert said that in natural gas the main cooperation project is the Power of Siberia pipeline. It is the largest fuel transportation system in Eastern Russia; the pipeline is almost three thousand kilometers long and can potentially delivery about 38 billion cubic meters of natural gas per year, the analyst noted.
Against the backdrop of the sector-wide sanctions imposed on Russia by the West, China can act for our energy sector as an alternative creditor, investor and partner that can help promote effective technological development of the entire sector. Moreover, the energy cooperation between the two countries can and should expand in the future, the experts note.