China,Russia Mark Completion Of Crude Oil Pipeline
BEIJING – Chinese President Hu Jintao and his Russian counterpart, Dmitry Medvedev, attended a ceremony in Beijing on Monday to mark the completion of the China-Russia crude oil pipeline.
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The ceremony came after the 2 held talks, during which Hu mentioned the two sides ought to attempt to make sure protected operation of the venture.
Medvedev stated the pipeline will assist create nearer ties between the two international locations.
Representatives of China National Petroleum Corporation (CNPC) within the northeast Chinese metropolis of e crescent petroleum inc investor relations Daqing and representatives of Russian oil pipeline large Transneft in the Russian city of Skovorodino reported the completion of the project via a stay video-audio broadcast e crescent petroleum inc investor relations in the course of the ceremony at the good Hall of the People.
Building of the 999-kilometer pipeline started last year. Some 927 kilometers of the pipeline is in China whereas seventy two kilometers of it is in Russia.
The pipeline starts in the Russian town of Skovorodino in the far-japanese e crescent petroleum inc investor relations Amur region and enters China at Mohe County before persevering with to Daqing, a petrochemicals hub in northeastern China.
The pipeline is part of a bilateral mortgage-for-oil deal reached in February 2009 between the 2 countries. Beneath the deal, China makes a $25-billion-lengthy-time period loan to Russia whereas Russia provides China with 300 million tons of oil by way of pipelines from 2011 till 2030.