Commodities, Emerging Markets, Energy, Stocks

Russia Considering Granting Chinese Investors Over 50% Share In Strategic Oil And Gas Fields

China RussiaRussia is considering the idea of granting Chinese Investors over 50 percent share in strategic oil and gas fields, except for offshore, Russian Deputy Prime Minister Arkady Dvorkovich said on Friday, according to a report from TASS.

If there is a request from China, we will seriously consider it. And I see no political obstacles at the moment,” Dvorkovich said Friday, RT reports.

The announcement from Deputy Prime Minister Arkady Dvorkovich came during the Krasnoyarsk Economic Forum, according to TASS.

“We have a strategic partnership with China and now decisions are made much faster than before. In particular, we have a gas contract; a second one will be signed soon. Now we know China better: their motives and intentions are understood. There used to be a psychological barrier. Now it doesn’t exist anymore. We are interested in maximizing investments in new industries. China is an obvious investor for us,” Dvorkovich, according to RT.

In May 2014, Russia’s energy giant Gazprom and China’s CNPC signed a $400 billion contract to supply 38 billion cubic meters of gas per year to China for 30 years via the Power of Siberia pipeline.

Dvorkovich also expressed confidence in the prospects of cooperation with China for the construction of the Moscow-Kazan high-speed rail line. “I am confident that the high-speed line, we will eventually do,” Dvorkovich said.

China plans to build a $242 billion high-speed rail link between Beijing and Moscow with a Moscow to Kazan branch.

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