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China, Russia energy trade to quadruple by 2025
Trade will involve 100 million metric tons of Russian oil. Consulting firm Wood Mackenzie said China and Russia have already reached an agreement for the supply of oil, coal and power and expects another deal in the next two years for the supply of natural gas.
China is providing financing to support much of the required infrastructure costs like it did for the Eastern Siberia Pacific Ocean pipeline.
The recent acquisition of a 20 percent stake in Russia's Yamal LNG project by China National Petroleum Corporation is seen as a symbol of increasing cooperation between both countries. Wood Mackenzie warned, however, that negotiating future terms s could be more difficult.
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