Sino-Russian Oil and Gas Cooperation: The Reality and Implications
China and Russia are giant countries whose recent economic and energy experience could hardly be more different: in the one, unprecedentedly rapid industrialisation has sent its share of world primary energy consumption soaring from 7 to 20 percent since 1985 (overtaking the USA); in the other the collapse of centrally planned industry has reduced its share from 11 to 6 percent during the same period.
China has tried to exploit its modest energy endowments sparingly, while forging a world-wide supply structure that prevents it from being deprived of the imports its economy needs. Russia meanwhile has become a major oil and gas exporter, possessing more than 20 percent of the world’s gas reserves, part of which it is eager to sell to China. Inevitably, therefore, energy is at the centre of relations between these two countries.
OIES has now published a book analyzing the implications of the Sin-Russian energy relationship. For more information about the book and to order a copy please go here.