April 22nd, 2009 | Xinhua Chinese vice premier calls oil pact with Russia "milestone"
An oil cooperation agreement signed by China and Russia Tuesday was a milestone in bilateral energy cooperation, Chinese Vice Premier Li Keqiang said.
“This [agreement] provides a solid basis for comprehensive, long-term and steady cooperation in this field,” Li told visiting Russian Deputy Prime Minister Igor Sechin.
Sechin and another Chinese vice premier, Wang Qishan, signed the document earlier Tuesday. A package of cooperation agreements between Chinese and Russian enterprises became effective after the signature.
China and Russia signed seven agreements on a package of cooperation programs for energy in February, which included a pipeline construction project, a long-term crude oil trading deal and a financing plan between the China Development Bank and the Russia Oil Pipeline Transport Company.
Li said he hoped both nations would carefully implement all the agreements and ensure construction of the pipeline be completed as scheduled.
He said both sides should fully utilize their energy negotiations to promote cooperation in the fields of oil, gas, nuclear energy and electric power.
Sechin said Russia was ready to work with China to fully carry out the agreement and consensus reached during this visit and expand cooperation.
“The record-breaking agreement signed this time would establish a basis for long-term, strategic cooperation in energy resources,” Sechin noted. Energy cooperation had enriched bilateral relations, he said.