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Energy and transport

Historical agreements on investment in the Far East signed in Beijing

Energy and transport

China will send more than 300 billion rubles to the implementation of Far Eastern projects. We are talking about investments in the fields of energy, cargo transportation, logistics, etc. The relevant agreements were signed during the visit of President of the Russian Federation Vladimir Putin to Beijing. According to experts, the agreements reached are a landmark economic move and a good signal for the Far Eastern business.

The visit of the Russian delegation headed by Vladimir Putin to Beijing was calculated for only two days. However, this time was enough to provide the entire Far East with investments for years to come. In general, almost 40 agreements were signed in Shanghai between Russian and Chinese regions, domestic private and state-owned companies with Chinese banks and enterprises. “In monetary terms, these are tens and tens of billions of dollars,” said Russian President Vladimir Putin, stressing that we are talking about different industries.

Perhaps one of the most important both for the country as a whole and for its eastern part is the largest gas contract in the entire history of the USSR and modern Russia. The parties agreed to supply Russian gas to China for a period of 30 years for $ 400 billion. Blue fuel will go to the Middle Kingdom along the so-called Eastern route - from new fields in Eastern Siberia, primarily Chayandinsky and Kovykta (Yakutia and Irkutsk Region). They will build the Power of Siberia gas pipeline, which will be connected to the Sakhalin - Khabarovsk - Vladivostok gas pipeline. In the region of Blagoveshchensk, a branch to China will be built from the pipe. The volume of investments from the Russian side will be approximately $ 55 billion, and at least another $ 20 billion will come from Chinese partners.

The price of gas, which will go to China from Russia, was not voiced by the head of Gazprom Alexey Miller, citing considerations of trade secrets. Such secrecy is understandable, and given the fact that the final cost of gas will inevitably be tied to the price of oil and oil products, it will be affected by annual indexation, investment risks and a host of other factors. Experts, making preliminary calculations, argue that we are talking about no less than $ 385 per thousand cubic meters. meters In addition to the obvious commercial benefits for Russia, this contract has a rather serious diplomatic and propaganda value. Konstantin Simonov, director general of the National Energy Security Foundation, called this document “a useful psychological factor demonstrating that our country’s energy resources are not only in the East, but also in the West.” Experts suggest that the agreement between the Russian Federation and China will be one of the rather serious arguments during the upcoming 26 talks in May with Ukraine in search of a compromise price for Russian gas supplies.

However, the historical moment is obvious: Russia, which has always focused on exporting raw materials to European countries, is making a "turn to the East." In this case, Gazprom follows the example of Rosneft, which concluded a contract for the supply of hydrocarbons to China last year. Moreover, the approach to negotiation proves that the Russian side is able to quickly and effectively resolve the necessary issues and do not waste time when it is literally money. In the future, experts believe, Russia will be able to increase the maximum volume of gas supplies from 38 billion to 60 billion cubic meters. Yes, and occupy a niche in the promising Chinese market - the case in any case is very timely, especially in the face of economic sanctions from the EU and the US.

The conclusion of a gas treaty with China is a “breakthrough” in the Asian sector, which gives impetus to the development of relations in the energy sector with the entire Asia-Pacific region. Russia has the opportunity to increase deliveries and minimize costs when exporting to the Chinese market, the demand for which is growing by 25% per year. This contract is also of considerable importance for the current state priority - the development of the regions of the Far East and Siberia. Russia is getting an opportunity to develop the industries associated with the extraction of "blue fuel", to build gas chemical plants, gas liquefaction plants and transshipment complexes in Eastern Siberia and the Far East.

"The created backbone infrastructure already at the initial stage will allow the regions to make a qualitative breakthrough in development," said Dmitry Baranov, a leading expert at Finam Management. - Firstly, these are new jobs, both during the construction period and during the subsequent operation of the gas pipeline. Secondly, this is the further gasification of the regions. Thirdly, this is an increase in revenues to budgets of all levels. "

According to Andrei Ostrovsky, Deputy Director of the Institute of Far Eastern Studies of the Russian Academy of Sciences, there is no reason to believe that over time, the Russian-Chinese project will artificially slow down at the state level. It is beneficial to both countries and represents a unique chance for the development of the entire Far East, and not just its gas industry (which is already important in itself). As Mr. Ostrovsky explained in a recent interview with (, booming China is very interested in increasing the volume of gas imports from Russia. And in exchange for some price concessions, we can negotiate a number of preferences for Russian enterprises operating in the Chinese market. But we must understand that on a global scale, we need China more than we do. Therefore, it is important in any issues of cooperation to show flexibility and work for the future, the expert believes.

Another important document is related to investments from the Chinese side also in the field of energy. Thus, according to the cooperation agreement between the energy holding of JSC RAO Energy Systems of the East and the Chinese company Dongfang Electric International Corporation, 78 billion rubles will be invested in the energy sector of the Far East. One of the largest Chinese energy corporations is ready to participate in the financing and implementation of the project “Construction of GTU at the Vladivostok CHPP-2” (installed electric capacity of 93 MW, thermal capacity of 80 Gcal / h).

In addition, the parties agreed on cooperation in the field of repair, technical re-equipment and reconstruction of existing generation facilities and the grid complex of the Far East. As was informed by Nadezhda Rukina, head of the public communications department of RAO UES, Dongfang Electric International Corporation is ready to offer new energy efficient technologies for this. The parties will also jointly develop solar energy in Yakutia.

Another major agreement for the FEFD was concluded between Summa Group Ltd. and Jilin Province. The document concerns the development of the promising project “Big Port Zarubino”, which is planned to be built in the Trinity Bay of the Primorsky Territory, 18 km from the border with Russia. Port cargo turnover will be 60 mln tons per year. The key facility should be the grain terminal at 10 mln. Tons per year, which the United Grain Company plans to build (OZK, 50% minus 1 share in Summa, the controlling stake is in the state - approx. ed.).

In addition to grain, containers will be loaded through the port (the planned capacity of the terminal is up to 1,29 million TEU per year), bulk cargoes (up to 35 million tons per year), rolling Ro-Ro and other cargoes (up to 500 thousand units per year). Up to 60% of cargo turnover will be for the transit of goods from the north to the southern provinces of China. A plot of more than 100 ha was bought for construction of port terminals. According to the press service of the "Summa" group, the total amount of investments in the project will be more than 40 billion rubles. The project will be implemented in 2017 year.

Thus, Summa will significantly expand its presence in the Far East. It should be noted that the group already has the Vladivostok Commercial Sea Port (part of the FESCO Transport Group). Its development possibilities are limited, and the average annual cargo turnover is about 6,5 mln tons per year.

Another key cooperation agreement for the Russian Far East was signed between the Russian Ministry of the East and the State Development Bank of China (SBKK). The document was signed by Minister of the Russian Federation for the Development of the Far East Alexander Galushka and Chairman of the Board of Directors of the State Development Bank of China (GBRK) Hu Huaibang. The document includes issues of financing projects in the Far East region by the Chinese side. According to the press service of the Ministry of Economic Development and Trade, the parties agreed on the provision of competitive commercial loans by a Chinese bank based on the coordination and definition of specific cooperation projects. In addition, the Chinese side will participate in the creation of infrastructure objects of the territories of advanced development (TOR).

Recall, in accordance with the signed 16 August 2013 year, the document provides for financing by the Chinese bank of investment projects in the territory of the Far Eastern Federal District in the amount of up to $ 5 billion.

Experts are confident that the signing of agreements on the financing of projects in the Russian Far East can be regarded as another step towards the development of long-term and productive cooperation.

"And although we still do not know anything about the terms of the loan, as well as who will get the money: Russian or Chinese investors, this is a significant economic move and a good signal for Far Eastern business," said director of the Institute of International Business and Economics at VSUES Alexander Latkin. According to him, China is already the largest Russian trading partner with a turnover of over $ 80 billion.

"Our partnership with him and achieved in various areas of agreement only strengthens our international position," the analyst believes.

Despite the difficult political situation in the world, Russia has not concluded a single unfavorable transaction from an economic point of view, said Fyodor Lukyanov, editor of the Russia in Global Affairs magazine.

“This indicates a strong and consistent position of the country's authorities,” the expert commented.

Larisa Sakharova, Candidate of Economic Sciences, said that in China, consumption of all types of raw materials and the country's dependence on the outside world are growing, so the Celestial Empire increasingly needs energy and other resources.

“The focus on cooperation with Russia in such sectors as energy, cargo handling and port facilities, the banking sector opens up unlimited prospects for the Russian Far East and for China,” she said.

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