China and Russia Sign Energy Agreements    

China and Russia have finalized plans for building an oil pipeline between the two countries and transporting crude oil to China, under the agreements which were signed in Beijing on April 21st, 2009.
   This marks a significant breakthrough in the energy partnership between the two nations.
   China and Russia signed agreements this February for a 20-year deal to pump 15 million tons of Russian oil per year through pipeline to the Chinese market in return for US$25 billion of loans for Russian oil firms.
   The two nations are in progress of a joint venture refinery in Tianjin now, which is expected to be launched in 2010 by the 51/49 joint venture Sino-Russian Oriental Petrochemical (Tianjin) Co., Ltd. between China National Petroleum Corporation and Rosneft. (CCR2009 No. 9, No. 6)
   In addition, construction on China-Russia Crude Oil Pipeline's Russia section was started on April 27th, according to news released by CNPC. The pipeline with a length over 4 000 kilometers will be used to transmit Russian oil, with a design capacity of 30 million t/a.