Cooperation between Russia and China in the oil and gas energy sector: common prerequisites, political and legal framework, key areas and development projects
Economic Annals-ХХI: Volume 193, Issue (9-10), Pages: 15-24
Citation information:
Karlusov, V., & Yarkov, D. (2021). Cooperation between Russia and China in the oil and gas energy sector: common prerequisites, political and legal framework, key areas and development projects. Economic Annals-XXI, 193(9-10), 15-24. doi: https://doi.org/10.21003/ea.V193-02
Vyacheslav Karlusov
D.Sc. (Economics),
Professor of the Department of World Economy,
Moscow State Institute of International Relations (MGIMO University)
76 Vernadsky Ave., Moscow, 119454, Russian Federation
vk5577@yandex.ru
ORCID ID: https://orcid.org/0000-0003-2632-1542
Dmitry Yarkov
PhD Student (International Economics),
Department of World Economy,
Moscow State Institute of International Relations (MGIMO University)
76 Vernadsky Ave., Moscow, 119454, Russian Federation
ORCID ID: https://orcid.org/0000-0003-2323-8591
Cooperation between Russia and China in the oil and gas energy sector: common prerequisites, political and legal framework, key areas and development projects
Abstract. China’s economic cooperation with Russia has been expanding since 2016. Since 2010, China has been the main trading partner for Russia, and in 2020 the volume of imported energy resources to China amounted to USD 32 billion with total imports of USD 130 billion – a record in the history of relations between the countries. The oil and gas sector is no exception in this case, and China is trying to increase its position on the import of Russian oil and gas by participating in the financing of various gas and oil pipelines being built near the border with Russia. At the same time, and from an economic point of view, China has no more profitable option to receive oil in large volumes, including to support heavy industry.
The purpose of the work is to analyze the past experience of supporting oil and gas energy in the framework of cooperation projects between Russia and China.
Scientific novelty. In this article, from the methodological point of view of a systematic retrospective analysis, the general prerequisites, the political and economic base of the study, the main trends and problems, directions and specific projects of cooperation between Russia and China in the oil and gas energy sector are considered.
Practical significance. The results of the work will be useful for analyzing projects in the field of oil and gas cooperation at the country level.
Keywords: Russia; China; Energy; Oil; Gas; Cooperation; Economy; Projects; Problems; Prospects
JEL Classіfіcatіon: N55; Q35; F13
Acknowledgements and Funding: The authors received no direct funding for this research.
Contribution: The authors contributed equally to this work.
Data Availability Statement: The dataset is available from the authors upon request.
DOI: https://doi.org/10.21003/ea.V193-02
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Received 6.04.2021
Received in revised form 19.05.2021
Accepted 29.05.2021
Available online 19.10.2021