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Africa

China’s CNOOC finally agrees to invest in Uganda’s oil | Source: The Observer

China National Offshore Oil Corporation Ltd (CNOOC) has finally closed the long-awaited Final Investment Decision (FID) for the development of Uganda’s oil and gas projects in the Albertine region. The decision by CNOOC to unlock billions of dollars of investment in Uganda’s oil and gas sector now gives a green light to the proposed construction of a $3.5 billion East African Crude Oil Pipeline (EACOP) and other infrastructure in the Albertine region.

Source: The Observer


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North America

Sinopec signs China’s largest long-term LNG contract with U.S. firm | Source: Reuters

China’s Sinopec (600028.SS) has signed a contract with U.S. Venture Global LNG to buy 4 million tonnes of liquefied natural gas (LNG) annually for 20 years. The deal is the largest LNG long-term contract signed between Chinese and U.S. companies.

Source: Reuters


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central asia

China, Russia Working Together on Security Threats in Central Asia | Source: VOA NEWS

The security threat in Afghanistan and the desire to shut off Central Asia from other powers, such as the U.S., is motivating Beijing and Moscow to cooperate and gloss over their differences. Beijing’s gradual engagement with Central Asian countries had been focused on the economic front, with state-backed investments in hydrocarbons, mineral extraction, pipeline construction, transportation, among others, but “lately there has been a trend of China becoming a security player too”. Moscow, meanwhile, has been the dominant security partner for the countries within the Russia-led Collective Security Treaty Organization framework and has been the largest supplier of arms.

Source: VOA NEWS


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Eurasia

China, Russia sign road transport deal in boost for bilateral energy trade | Source: Global Times

China has signed an agreement with Russia on road transportation of dangerous goods, which will effectively boost bilateral trade in energy products, including liquefied petroleum gas and natural gas. At a time when many parts of the world face energy shortages, the agreement shows that China and Russian have strengthened bilateral cooperation on energy security, analysts said.

Source: Global Times


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Eurasia

China looks to Russian coal to help ease its power shortage crisis | Source: SCMP

China’s attempts to address its power shortage have received a boost through efforts to increase imports of coal and electricity from Russia. “The shortages in power supplies in China should reinforce the energy alliance between Moscow and Beijing, if only because Russia is the nearest external source of coal, gas and oil for China. As one consequence, Beijing may give the final go-ahead to the Power of Siberia 2 gas pipeline project, which would bring Russian gas from western Siberia into China via Mongolia.”

Source: SCMP


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Asia Pacific

China urges gas importers to secure supplies at any cost to avoid energy crunch this winter | Source: RT

With the world grappling with an energy crisis amid the post-pandemic recovery, China has urged its liquefied natural gas (LNG) importers to secure enough fuel before winter. The large state-owned companies are ready to pay high spot prices to attract shipments away from rivals in Asia and Europe despite the extreme losses they could be facing. Meanwhile, the China Banking and Insurance Regulatory Commission said that banks should prioritize lending to qualified mines and power plants so that they could increase thermal coal and electricity output.

Source: RT


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Eurasia

First China-Russia highway bridge ready for operation | Source: Global Times

Workers work at the construction site of the first highway bridge connecting China and Russia across the Heilongjiang River, on August 19, 2019.

The Blagoveshchensk-Heihe highway bridge, the first highway bridge connecting China and Russia across the Heilongjiang River, is ready to open to traffic, marking the completion of another key cross-border infrastructure project that could pave the way for a closer economic bond between the two countries. China and Russia are also actively exploring cooperation in the fields of oil and gas chemicals, mineral resources, as well as green, low-carbon, and hydrogen energy.

Source: Global Times


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Eurasia

Russia, China and Turkey to account for more than half of global working gas capacity additions by 2025 | Source: Global Data

Russia, China, and Turkey are expected to lead global working gas capacity additions, collectively contributing 54% of the total working gas capacity additions from planned and announced projects between 2021 and 2025, says GlobalData, a leading data and analytics company. GlobalData identifies China as the second highest contributor to global working gas capacity additions, with planned capacity additions of 473 bcf by 2025.

Source: Global Data


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Eurasia

Russia’s Gazprom Neft signals shift away from US dollar payments in China | Source: South China Morning Post

Gazprom Neft is the third-biggest oil producer in Russia and operates at 34 airports in China.

Gazprom, third-biggest oil producer in Russia that operates at 34 airports in China , has started settling some aviation fuel payments in the yuan in China as Moscow and Beijing look to cut reliance on the US dollar and increase cooperation in the energy sector. The US dollar’s share of trade between Russia and China fell below half for the first time on record in the first quarter of 2020, and again in the fourth quarter last year, with more than three-quarters of the transactions between the two countries now conducted in the euro, according to Russia’s central bank.

Source: South China Morning Post


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Eurasia

Gazprom surpassed maximums in Russian gas deliveries to China | Source: Plenglish

The Russian company Grazprom reported that its gas deliveries to China through the Force of Siberia gas pipeline exceeded its contractual commitments with that Asian nation by more than 5.0 percent, establishing a new high of supply.

Source: Plenglish


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