Russian Tectonic Preferential Shift to Asian Energy Market

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“Moscow and Beijing are moving towards the formation of a strategic energy alliance… Chinese companies have joined gas projects on the Russian Arctic shelf and the Sakhalin shelf” Russian President Vladimir Putin said.

 Chinese thirst for Russian energy has been growing non-stop and increased by 20 percent over the past summer. In this context, the Great Hall of the People, Beijing, witnessed the historic sign of a memorandum of strategic cooperation between Gazprom and China National Petroleum Corporation during a recent visit of President Vladimir Putin to China. It extends their collaboration not only in the supply of oil and gas but also post services and various other areas.

The recent memorandum consolidates their strategic cooperation and initially applicable to the next five years. In May 2014, Russia and China have made a breakthrough in the gas supply through the ‘Power of Siberia’ deal. It plans to supply 38 billion cubic meters of…

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