Sources: Russia could triple oil exports to China.

By bne IntelliNews March 21, 2013
Russia and China discuss contracts that would triple exports of Siberian oil through various transport corridors, Reuters reports citing unnamed sources in the industry. Rosneft is discussing increasing supplies to China by 34mn tonnes annually to about 49mn tonnes starting from 2018, which will be discussed by president VladimirPutin's and China's Xi Jinping this week in Moscow. It also reported previously that Rosneft could double the supplies of oil to China in exchange for USD 30bn loan from China National Petroleum Corporation (in 2009 CNPC granted Rosneft a USD 25bn loan for 20 year supplies deal of 15mn tonnes annually). Deputy PM Arcady Dvorkovich then confirmed discussing increasing oil supplies to China, without specifying how much the deal is worth. Bloomberg also reported that during the visit of Xi Jinping to Moscow an agreement on a natural gas pipeline is going to be pursued, with previous negotiations with Gazprom being reportedly difficult due to disagreements on exports price of natural gas.

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