Russian oil producer the Russian oil plans to increase oil exports to China. As the second largest oil producer in the world after Saudi Arabia, Russia reach 30 million barrels per day capacity of China's oil pipeline. If Russia is to increase the supply of China Petroleum, which means that oil demand in Asian economies will account for 20% of Russia's total oil production. Asia is now the key areas of global economic growth, energy supply Russia strategic center of gravity eastward, a move that will have a profound impact worldwide.
Sechin, president of Russian oil, the increase of China's oil output may be discussed in a meeting with Chinese Vice Premier Wang Qishan. The OPEC report shows that in February of this year, leading other Asian economies, China and India's energy needs. China's economic growth this year is expected to reach 8.1%, compared to 2012, rising 0.3%.
Sechin on oil and gas cooperation, China and Russia, there is greater potential, because Russia is brewing reform, production is expected to rise in the future. Russian oil will be more concerned about the liquefied natural gas industry, most of the Russian domestic LNG permission in the hands of the Russian oil competitors Novatek, with oil and gas exploration in the Arctic acceleration, LNG will become another Russian energy focus.
According to the U.S. Geological Survey data, 70% of proven oil resources and 30% of unproved natural gas resources are concentrated in the Arctic. The climate warming exacerbated by the Arctic melting glaciers, more potential for oil and gas exploration. Some analysts pointed out that the next few years, the Arctic need to invest hundreds of billions of dollars of oil and gas development.
However, until now, the international energy giants, including Shell, in the development of the Arctic are experiencing difficulties, Russia oil hope with Exxon Mobil, the Norwegian national oil with the development of Arctic resources. The increase in China's oil demand will be a test of Russia's export capacity, with the surge of U.S. oil and gas production, the next turn to consider oil and gas from the United States are also likely, Russia will face a huge challenge. Russian President Vladimir Putin praised the the energy exports Look East policy, to pay more attention to the Asian countries, Russia's internal and external energy policy will therefore be adjusted.
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