Sino-Russian energy co-operation entered a new phase during Russian President Vladimir Putin's visit to China in March. During his trip, a package of agreements and protocols on energy co-operation were signed. In addition, the China-Russia joint communiqu defined the two countries' energy co-operation as a vital aspect of their strategic co-operative partnership.
There are a number of reasons for this increasingly close co-operation.
First, Russia enjoys abundant energy resources and is the world's leading exporter of energy resources, while China is the world's second-biggest oil consumer and the second-largest petroleum importer.
These factors constitute the basis of Sino-Russian energy co-operation.
Second, the world's energy exporters are trying to diversify the recipients of their supplies. At the same time, energy-importing nations are also seeking to diversify their suppliers. Both sides are seeking greater energy security.
In the case of Russia and China, the two countries are each other's biggest neighbour. These geographic advantages are multiplied by the fact that China has a massive demand for energy.
In addition, Russia's energy exporting strategy is tilting eastwards.
Russia's energy resources, particularly its petroleum and natural gas, give the nation a great deal of diplomatic leverage.
Realizing that a single export destination is not in Russia's long-term interests, the nation has been trying to diversify its export destinations. Looking eastward partially reflects this shift in Russia's energy exporting strategy.
