Russia to increase oil supplies to China, Vladimir Putin says

Russia will increase oil supplies to China.

"Last year oil supplies to China totaled 3 million tons. This year we plan to increase the volume of supplies," Russian President Vladimir Putin said at a press conference following the talks with his Chinese counterpart.

Russia is considering the possibility of building oil and gas pipelines from Russia to China, Vladimir Putin added.

"Experts should answer the question on the development of these routes. But Russia is interested in entry into the Chinese market and we are ready to help the realisation of these projects," the Russian President said.

Siberia possesses good prospected and not prospected energy supplies and China's growing economy lacks energy carriers, the President noted. "We can supplement and help each other," Vladimir Putin said.

Speaking about other aspects of energy cooperation, the president pointed out the positive experience of cooperation in the development of nuclear power stations. "We hope for further cooperation with China in atomic energy sphere," the Russian President said. In addition, he pointed to good collaboration in hydro-power and heat-generation spheres. We are ready not only to supply China with equipment but also to cooperate with it," the Russian leader stressed.

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