The Center on Global Energy Policy and the Harriman Institute hosted a panel discussion on China-Russia Energy Relations: Key Drivers and Implications. In May 2014, one of the world’s largest oil and gas producers, Russia, agreed to supply China, the world’s largest energy consumer, with over $400 billion dollars worth of natural gas over 30 years. Six months later in November 2014, Russian and Chinese state-owned oil and gas companies agreed to an MOU that if implemented, would double the value of the deal signed in May.
In May 2014, one of the world’s largest oil and gas producers, Russia, agreed to supply China, the world’s largest energy consumer, with over $400 billion dollars worth of natural gas over 30 years. Six months later in November 2014, Russian and Chinese state-owned oil and gas companies agreed to an MOU that if implemented, would double the value of the deal signed in May. These agreements, which reflect a broader trend of growing energy ties between China and Russia, raise a series of questions that are addressed in this podcast episode, including:
- What were the key drivers for the May and November deals, and what do these agreements portend for Sino-Russian energy and bilateral relations? How does it fit within the broader political and energy relationship between the two countries?
- What is the broader impact of the deal for natural gas markets, in Asia and Europe specifically?
- How do Western sanctions and Russias current economic woes affect the contours and potential implementation of the May and November deals? On energy cooperation more broadly?