Novak announced an increase in the supply of Russian energy resources to China by 40%

Russia continues to increase the supply of energy resources to China, in 2023 their growth is approximately 40%, Deputy Prime Minister Alexander Novak said during a meeting between Prime Minister Mikhail Mishustin and Russian business circles in Shanghai.

“As for energy, this is one of the main areas for developing cooperation with China. A wide range of issues on cooperation, not only on the supply of energy resources, which are growing in large volumes, and in 2022 have grown significantly. And in 2023, another 40% growth is approximately,” declared he (quoted by TASS)

In addition, the politician added, Russia is working with Chinese partners on joint participation in the supply of the missing technological equipment for the energy industry.

In January, Vedomosti, citing statistics from China’s General Administration of Customs wrotethat Russia increased exports of liquefied natural gas (LNG) to China in 2022 by 43.9% to 6.5 million tons, oil – by 8.3% to 86.25 million tons. China increased 2.4 times to $6.7 billion, oil – by 44% to $58.4 billion. At the end of 2022, Russia ranked second in oil supplies to China and fourth in LNG supplies.

On the evening of May 22, Mishustin arrived on an official visit to China. Today, May 23, the prime minister has already spoken at the plenary session of the Russian-Chinese Business Forum in Shanghai, visited the Sinopec Petrochemistry Research Institute in Shanghai. As part of his official visit to China, Mishustin is also scheduled to meet with Chinese President Xi Jinping and Chinese Premier Li Qiang.