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Perspective of the Chinese-Russian cooperation in the sphere of the oil, gas and chemical industry

In: Euroasian international cooperation: the model and perspectives of development

  • Ma Fenun’
  • Hu kelin’
  • Gou Sin’huy
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    The explored stocks of oil of Russia make 11.6 % of total stocks of oil of the world, gas stocks make 33.5 % of the explored world's gas reserves. Now export of gas from Russia takes the first place in the world; oil export – the second place. In this connection Russia plays the main role in the world market of hydrocarbonic resources. Export of oil to China makes approximately 2 % from total exports of oil of Russia. Now there are two problems of manufacture and oil and gas refining in Russia: 1) updating and increase of the equipment quality degree for processing and oil and gas transportation, increase of technological level of oil refining and quality of mineral oil is required; 2) maintenance of long duration of manufacture and new oil fields exploration. For the decision of these problems the investment of huge means is required: in the sum of 200-210 billion US dollars. In this connection there is a cooperation prospect between China and Russia on exploration of oil and gas resources. Within the next 20 years China will turn to the most perspective consumer market of oil and gas in the world that will provide switching of attention to exploration of hydrocarbonic resources of East Russia and change of a direction of oil and gas export to Asian-Pacific region. It gives favorable chance for building in Xinjiang pipelines of hydrocarbonic resources and for considerable development of cooperation with Russia as a whole. In Xinjiang there are highly effective deep petropumps, oil-field installations, force reservoirs, electrocontrol installations for the petroindustry and others. Accordingly there are possibilities for trade and cooperation between Xinjiang and Russia in the field of oil refining. Now the Governments of China and Russia promote creation of favorable conditions for commerce development between the Chinese and Russian enterprises that will lead to the further development of the Chinese-Russian cooperation.

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    This chapter was published in: Ma Fenun’ & Hu kelin’ & Gou Sin’huy Euroasian international cooperation: the model and perspectives of development, , chapter 1, pages 83-91, 2009.
    This item is provided by Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences in its series Euroasian international cooperation: the model and perspectives of development with number art8.
    Handle: RePEc:ura:ca0002:art8
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