The Sino-Russian crude oil pipeline project was completed on September 27th, 20 10. China president Hu Jintao and Russian President Dmitry Medvedev attended the completion ceremony.
China president Hu Jintao held a China-Russia summit with Russian President Dmitry medvedev on Monday. Subsequently, Hu Jintao and medvedev attended the opening ceremony of the Sino-Russian oil pipeline, which extended from Skovorodino in eastern Siberia to Daqing in northeast China. It is also the largest bilateral cooperation project between China and Russia at present.
Hu Jintao and Medvedev joined hands to open a new era of Sino-Russian energy cooperation.
China president Hu Jintao: "The successful completion of the Sino-Russian crude oil pipeline project is a model of mutually beneficial and win-win cooperation between the two countries and a new milestone in energy cooperation between the two countries."
Russian President Dmitry Medvedev: "I also agree with President Hu Jintao's high evaluation. I strengthen-future-oriented projects and mutually beneficial and win-win projects. "
The Russian section of the oil pipeline was completed last month, and the China section was also announced to be completed. According to the "loan-for-oil" agreement reached between the two countries, from 20 1 1 year to 2030, China will get 300,000 barrels of oil every day, with a total supply of 300 million tons. On this basis, China will provide Russian with a long-term loan of 25 billion US dollars. This pipeline has made Russian, Saudi Arabian and Angolan three major suppliers of crude oil to China. In order to form an upstream and downstream industrial chain, the two sides will jointly establish a Sino-Russian Oriental Petrochemical Refinery in Tianjin.
The completion of the Sino-Russian crude oil pipeline project marks a new stage of Sino-Russian energy cooperation.