/2009-02-19/114639869.html China’s US$25 billion in exchange for 300 million tons of crude oil supply from Russia in 20 years. Reporter Liu Lianying of the Supplier Newspaper "25 billion US dollars in loan in exchange for 300 million tons of crude oil supply in 20 years" - originally expected to be possible next month

The agreement reached ended early on Tuesday due to the Russian government's deficit crisis and Rosneft's financing difficulties.

This news became an important topic of hot discussion in the market yesterday.

The industry believes that this is a win-win cooperation from many aspects such as politics, economy, and energy security.

And our country is becoming the largest buyer of energy assets that attracts global attention in this financial crisis with its strong foreign exchange reserves.

Signing Agreement China-Russia Energy Dialogue Reached Formal Agreement On February 17, China and Russia reached an agreement on the details of the China-Russia "loan-for-oil" contract at the third energy dialogue held in Beijing and signed a formal agreement.

China National Petroleum Corporation (12.81,0.05,0.39%) recently signed long-term crude oil trade agreements with Rosneft and Rosneft Pipeline Transport Company respectively, and signed an agreement with Rosneft Pipeline Transport Company to transport crude oil from Skovoro, Russia.

Agreement for the design, construction and operation of the pipeline from Zino to the Chinese border.

The China Development Bank has also signed loan agreements with Rosneft and Rosneft respectively.

A statement published on the official website of Rosneft Pipeline Transport Company stated that on the basis of Russia’s loans from China, Russia will export 15 million tons of oil to China every year in the next 20 years.

A relevant person from PetroChina confirmed the news to a Xinhua News Agency reporter.

Rosneft Pipeline Transport Company also stated that the pipeline from Skovorodino, Russia to the Chinese border will start construction in 2009 and be put into operation in 2010.

The construction of the pipeline will be carried out simultaneously with the construction of the first phase of the Russian Far East Crude Oil Pipeline.

The signing of the China-Russia crude oil pipeline agreement is based on the agreement in principle on the Chinese branch of the Russian Far East crude oil pipeline signed by CNPC and Rosneft Pipeline Transport Company last year.

According to the agreement in principle, the two parties will jointly build and operate the China-Russia crude oil pipeline from the Russian Far East city of Skovorodino via the Chinese border city of Mohe to Daqing, China, based on the first phase of the Russian Far East Crude Oil Pipeline Project.

The China-Russia crude oil pipeline is about 70 kilometers long in Russia and about 960 kilometers long in China.

Russia's interests support economic revitalization and energy strategies, which require a large amount of funds to stabilize the country's finances. The agreement signed this time has determined many details.

The interest rate issue that had previously hindered negotiations was finally determined to be a fixed interest rate of 6%; at the same time, Russia used oil as collateral to repay the loan with oil supply, and supplied China with a total of 15 million tons per year through pipelines from 2011 to 2030.

billion tons of oil. The price of oil is based on the price of Russian oil shipped to the port of Nahotka and follows the market.

Currently, Russia’s annual railway oil supply to China is not affected by the agreement and will increase to 15 million tons in the future.

In addition, as part of Sino-Russian energy cooperation, the two sides have also signed cooperation agreements covering nuclear energy, electric power, mineral development and other aspects.

"Obviously, the US$25 billion long-term loan will bring huge benefits to Russia." China Investment Consulting Company pointed out that after the outbreak of the U.S. subprime mortgage crisis, global stock markets plummeted, and Russia once became a "safety island" for the world economy.

However, Russia was unable to survive the international financial crisis. Since then, a large amount of foreign capital has flowed out of Russia, reducing Russia's international reserves by US$60 billion. Several major oil companies have fallen into a debt crisis. Therefore, a large amount of capital injection is needed to stabilize Russia's financial situation.

, to alleviate the capital shortage dilemma of large oil and gas companies.

In the past two years, due to strategic needs, several major Russian oil companies have seized resources everywhere in Europe, Africa, Southeast Asia, and Latin America, and their expansion momentum has been strong.

This kind of expansion lacks the support of its own funds and has to borrow a large amount of short-term debt from the West. The debt due at the end of this year alone will reach 80 billion US dollars.

In addition, Russian oil and gas companies also face the problem of expanding reproduction.

In recent years, they have obviously insufficient investment in the exploration and development of their own oil and gas resources. To ensure the supply of oil to Europe and Asia at the same time, they must expand exploration and development, which also requires the introduction of large amounts of funds.

The dependence on the European market has been greatly reduced. China Investment Consulting Company pointed out that on the other hand, Russia is formulating an energy strategy before 2030.

Russia and Europe are interdependent on oil and gas supply issues, which is both Europe's and Russia's weakness.

If the Eastern market is opened, it will not only solve the funding problem for economic development and provide support for Russia's economic revitalization, but will also help prevent regional separatism and maintain Russia's national unity.

In terms of energy exports, Russia's dependence on the European market can be greatly reduced.

If the Far East oil and gas pipeline has been opened, Russia's stance in response to Western pressure may become tougher.

And China's big market is exactly what they need.