Russian oil company signed agreements with China to guarantee the sales. They got funds to build highly-cost manufacturing and pipeline project and to change export target from Europe to Asia.
Vladimir Medvedev announces the agreements in his vist to Beijing. It will help State-run oil company Rosneft realize its goal -- exporting more than 1 million barrel oil to China every day.
Natural gas sullpier Novatek get a long-term contract of supplying liquefied natural gas.
The world greatest natural gas enterprise made some progress on the supplying natural gas to China.
"China may replace America to be the world's greatest oil importing country and Russia will gain a foothold in China." a insider said. Some oil exported to Europe will export to the East.
Written by Nicolas Yang