Russia, China Sign Business Cooperation Agreements Created: 21.03.2006 13:35 MSK (GMT +3), Updated: 13:35 MSK, 1 hour 10 minutes ago
MosNews
Documents on Russian-Chinese business cooperation were signed as part of Russian President Vladimir Putin?s state visit to China, which began on Tuesday, March 21. A total of 15 documents were signed.
President of state-owned Rosneft Oil Company Sergei Bogdanchikov and president of China National Petroleum Corporation (CNPC) Chen Geng signed an agreement to regulate the establishment of joint ventures in both countries to broaden bilateral cooperation in the oil sector, Interfax-China reported. Putin and his Chinese counterpart Hu Jintao attended the signing ceremony.
Among other projects, the document envisions Rosneft-CNPC joint ventures to refine crude oil and sell oil products, a Chinese source told the agency.
Chen and Simon Vainshtok, president of Russia?s oil pipeline monopoly Transneft, signed a protocol confirming the two companies? agreement to carry out a feasibility study for a Chinese branch of the East Siberia-Pacific Ocean oil pipeline.
The CNPC head and Russian gas giant Gazprom CEO Alexei Miller signed a memorandum on the delivery of Russian natural gas to China, paving the way for negotiations on commercial issues related to such shipments.
Among other documents, Anatoly Chubais, CEO of Russia?s power grid monopoly UES and State Grid Corporation of China Director General Liu Zhenya signed an agreement on a feasibility study for sales of Russian electricity to China.
Russia?s Space Communications company acting General Director Yuri Izmailov and China Network (Group) Company Ltd. Vice President Zhao Jidong signed a memorandum on mutual understanding as part of plans to arrange international satellites broadcasts of the 2008 Olympic Games in China.
Russian Railways President Vladimir Yakunin and Chinese Railways Minister Liu Zhijun signed a contract on the mutual use of large-tonnage containers in export-import operations.
Chechen President Alu Alkhanov, head of the state-owned Vnesheconombank (Foreign Economy Bank) Vladimir Dmitriyev and State Development Bank of China manager Chen Yuan signed an agreement on investment cooperation.
St. Petersburg Governor Valentina Matviyenko, China Eximbank President Li Ruo Gu and Shanghai United Foreign Investment Company Cai Laixing signed an agreement on strategic cooperation as part of the Baltic Pearl project, a $1-billion neighborhood in St. Petersburg which is supposed to be built by Chinese companies.
In addition to this, the Russian President Vladimir Putin said that cooperation in nuclear power generation will continue between Russia and China. Apart from energy supplies, ?our cooperation [in the energy sector] also involves the delivery of related equipment and nuclear projects, including our contribution to the creation of new nuclear power generation capacities in China,? he said.
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