MUTUAL BENEFIT AND COMPLEMENTARITY IN THE ENERGY COOPERATION BETWEEN CHINA AND RUSSIA

Abstract

Energy cooperation is shown as an important component of the comprehensive strategic partnership between China and Russia, as well as the source of the driving force for the development and maintenance of sustainable development of China-Russia relations related to the coincidence of the strategic interests of the two states. The main attention is paid to the formation of a new concept of cooperation between China and Russia, caused by fundamental changes in the structure of world energy at present, leading to increased coordination and complementarity in the energy sector. The article notes that the excess of supply over demand led to a decline in oil prices; a significant share of oil and gas consumption moved to the East. The change in the structure of energy resources is reflected in the reduction in the use of traditional (non-renewable) fossil energy resources and in the increase in the use of non-traditional (renewable) energy resources. The article draws attention to the fact that in addition to strengthening the complementarity of the energy of the two countries, there is the application of new Sino-Russian energy technologies, which create great opportunities for cooperation. And despite the fact that in implementing specific energy cooperation projects, the parties have faced a number of problems, bilateral energy cooperation still has broad prospects.