Russia, China Gas Deal: to Finish Gas Talks by Putin's May Visit

    Moscow and Beijing have been involved in painstaking talks about possible Russian gas supplies to China, with price being the main obstacle to a deal. Last week, The Russian deputy premier Arkady Dvorkovich went to China as part of a Russian delegation to discuss cooperation in the energy sector. “Russia and China aim to wrap up a 10-year series of talks about Russian gas supplies before President Vladimir Putin visits China in May”, Says Dvorkovich. “China is interested in alternative energy projects on the Black Sea peninsula of Crimea, annexed by Russia from Ukraine in March”, Interfax reported. "The Chinese colleagues who are involved in alternative energy projects, are looking with interest at participating in similar projects in the Crimean republic," Dvorkovich was quoted as saying. Dvorkovich also said Russia and China plan to boost cooperation in oil and oil products, as well as in coal and power supplies.
 

    Putin has urged Russian companies to expand their exposure to Asia as Europe's economy falters and countries there seek less dependence on energy supplies from their former Cold War foe. Europe is the key buyer of oil and gas from Russia. Russia's top natural gas producer Gazprom plans to start supplying China with 38 billion cubic metres of gas per year - around a quarter of Russia's exports to Europe - in 2018. Russia's top oil company Rosneft aims to triple oil supplies to China from the more than 300,000 barrels per day it sent last year.