Transneft, Russia's oil transport monopoly, is investing in the Skovorodino-Mohe pipeline to expand capacity to 30 million tons. "We plan to invest some 4.8 billion rubles ($70 million) and finish all the work in 2017," said Andropov. Russia began supplying China with crude through the Skovorodino-Mohe branch of the ESPO pipeline in 2011 after Rosneft, Transneft and China National Petroleum Corporation (CNPC) signed contracts two years earlier.
In 2013 they agreed to increase supplies to 15 million tons per year. Currently crude supplies using the pipeline are 5 million tons a year, increasing to 15 million tons a year in 2018 - 2037, with 7.5 million tons a year to be delivered in 2038.
Russia steals Saudi's crown as China's top oil supplier https://t.co/T3dBIHkhBj pic.twitter.com/e7Y9fxbF0h
โ RT (@RT_com) February 4, 2016
In 2015 China became Russia's biggest oil customer according to the International Energy Agency (IEA). Russia has doubled crude exports to China over the past five years. According to China's General Administration of Customs (GAC), Beijing purchased 4.81 million tons of oil from Russia in December 2015, 30 percent more compared to the previous year.
China overtakes Germany as Russia's top crude consumer, Beijing import alltime high in 2015https://t.co/ecVOWa6OUM pic.twitter.com/1dnXRf3gEQ
โ RT (@RT_com) March 14, 2016
Energy cooperation between the countries has been significantly increased. Two years ago Rosneft and CNPC signed a 25-year oil deal worth $270 billion under which the Russian company is expected to supply 360.3 million tons of crude to China.
Comment: Russia-China cooperation is advancing to a new stage of comprehensive partnership and strategic interaction. Perhaps it has reached the highest level in all its centuries-long history: See also: