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First Russian-Chinese Energy Business Forum Closes in Beijing

29 November 2018

The first Russian-Chinese energy business forum is successfully finished in Beijing. The format of the event was established in July 2018, upon instruction of Russian President Vladimir Putin and Chinese President Xi Jinping.

Representatives of about 90 companies from the energy, financial and IT sectors, political and public figures, diplomats and experts from Russia and China took part in the Forum. Among them were Executive Secretary of the Presidential Commission for Strategic Development of the Fuel and Energy Sector and Environmental Security and Chief Executive Officer of Rosneft Oil Company Igor Sechin; President of Transneft PJSC Nikolay Tokarev; Chairman of the Board of Inter RAO PJSC Boris Kovalchuk; Director General of RusHydro PJSC Nikolay Shulginov; Chairman of the Management Board of Gazprombank JSC Andrey Akimov; Deputy Chairman of the Management Committee of Gazprom PJSC Alexander Medvedev; General Director of TATNEFT JSC Nail Maganov; President of Neftegazholding JSC Eduard Khudainatov. The event was also attended by Minister of Natural Resources Dmitry Kobylkin, Russian Ambassador to China Andrey Denisov, and many others.

Leading Chinese politicians and entrepreneurs took part in the Forum: First Vice Premier of the State Council of the People’s Republic of China Han Zheng; Director of the National Energy Administration of China Zhang Jianhua; Vice Minister of Foreign Affairs of China Le Yucheng; Vice Minister of the National Development and Reform Commission Lian Weiliang; Chairman of the Board of CNPC Wang Yilin; President of China Gas Huang Yong; President of Jereh Wang Kunxiao; Vice President of Alibaba Liu Xiung; and others.

The business agenda of the Forum featured panel discussions on key matters of the Russian-Chinese energy cooperation. The parties discussed measures on expanding of the joint project portfolio, attracting of investments, and developing of digital technology in the fuel and energy industry. Over 50 bilateral meetings were held and over 20 agreements between energy majors of the two countries were signed at the Forum.

The Forum attendees also discussed the possibilities of expanding of the bilateral energy cooperation of Russia and China in various business areas. The event was concluded with a joint statement presenting the key goals of the Forum, including the following: to create a favourable investment climate; to exchange suggestions on most prospective projects; to attract investments to joint projects; to develop the conditions required for implementation of the scientific engineering potential; to prepare suggestions on improvement of the industry policy and bilateral cooperation mechanisms in the industry, et cetera.

The Forum participants noted the significance of joint energy projects for the social economic development of Russia and China. Representatives of key business entities urged financial institutions of the two countries to provide strong support to joint projects, to find new means of financing in order to create the sustainable economic relations and improve the investment climate.

A great significance of science and innovation in energy development acceleration was emphasised. “The Parties are to actively implement the innovative potential and advanced scientific engineering inventions to joint projects in order to increase the economic efficiency of the cooperation and to give the momentum to the development of science, engineering, and information technology,” the Statement says.

The Forum will be held annually. Russia is hosting it in 2019. In his speech, Executive Secretary of the Presidential Commission for Strategic Development of the Fuel and Energy Sector and Environmental Security Igor Sechin noted that the event brought together executives of the largest enterprises in the industry and almost every person in charge of decision-making on the energy development in Russia and in China. “Today, we have a beautiful opportunity to create the middle-term and long-term agenda of the Russian-Chinese energy dialogue,” he concluded.

Joint Statement of the Russian-Chinese Energy Business Forum for Media

Information Division
Phone: + 7 (499) 517-88-97
November 29, 2018

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.