Despite the critical view from some Western politicians, energy cooperation has always been an important aspect of the China-Russia economic and trade relationship, which not only has the potential for further expansion, but is also of great significance to regional energy security and even global low-carbon development.
Russian President Vladimir Putin signed a law ratifying an intergovernmental agreement, allowing natural gas supplies to be exported from Russia to China via the Far East route, TASS reported on Tuesday.
The ratification of the cooperation deal undoubtedly heralds an important step forward in natural gas cooperation between China and Russia. In January this year, the two neighboring countries inked an agreement that defines the terms of cooperation for the supply of gas from Russia to China via the Far Eastern route, including the cross-border section of the gas pipeline.
The Far East route project is expected to further increase the amount of Russian pipeline gas supplies to China by 10 billion cubic meters each year, once it reaches its full capacity, according to a previous statement by Gazprom.
While the amount may not be as high as the deliveries via the Power of Siberia gas pipeline, which is estimated to reach 38 billion cubic meters annually by 2024, the Far East route is still further proof of the deepening energy cooperation between Russia and China. Both sides’ willingness to build another line to boost gas transport is a clear indication of their sincerity and raises expectations for more gas cooperation in the future.
While the West has highlighted China’s trade ties with Russia since the Ukraine crisis, they have no right to pressure China to give up energy cooperation with Russia, which has a resilient foundation and is in line with the needs of both sides and in accordance with the global trade rules. In particular, the cooperation in natural gas, is important not only for China’s pursuit of diversified energy supply, but also for its improvement of energy structure and achieving global climate change targets.
Industrial forecasts indicate that natural gas will still play a crucial role in China’s energy consumption over the next decade. According to a document issued by the National Development and Reform Commission, China plans to raise the proportion of natural gas in its primary energy consumption to about 15 percent by 2030.
In fact, building a clean, low-carbon, safe and efficient energy system has already become the consensus and development direction of countries around the world, especially after the Ukraine crisis. Ensuring supplies of natural gas concerns the economic development and environmental protection of all countries. Just last month, Qatar’s energy minister warned that the global energy transition push will lead to serious shortage in natural gas in the future.
Against this backdrop, China is also making its own efforts to secure and diversify its gas supplies. Last year, China’s Sinopec signed a 27-year deal with QatarEnergy on the supplies of liquefied natural gas in the longest such LNG agreement to date.
Given Russia’s position as both the world’s largest gas exporter and China’s neighbor, similar gas cooperation between China and Russia is bound to have broader room in the future.
Bilateral gas cooperation is in line with the overall trend of global energy structure development. At a time when the world is facing the climate change target, cooperation between China and Russia in low-carbon areas such as natural gas also plays a major role in achieving carbon neutrality targets and promoting global green development.
(Global Times)
