China,Russia Mark Completion Of Crude Oil Pipeline
BEIJING – Chinese President Hu Jintao and his Russian counterpart, Dmitry Medvedev, attended a ceremony in Beijing on Monday to mark the completion of the China-Russia crude oil pipeline.
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The ceremony got here after the 2 held talks, throughout which Hu said the two sides ought to attempt to make sure protected operation of the project.
Medvedev stated the pipeline will help create nearer ties between the two nations.
Representatives of China National Petroleum Corporation (CNPC) within the northeast Chinese language metropolis of Daqing and representatives of Russian oil pipeline big Transneft in the Russian city of Skovorodino reported the completion of the venture through a live video-audio broadcast through the ceremony at the great Corridor of the Individuals.
Building of the 999-kilometer pipeline began final 12 months. Indian Some 927 kilometers of the pipeline is in China whereas 72 kilometers of it is in Russia.
The pipeline starts in the Russian city of Skovorodino in the far-eastern Amur area and enters China at Mohe County earlier than persevering with duqm refinery & petrochemical industries company to Daqing, a petrochemicals hub in northeastern China.
The pipeline is part of a bilateral loan-for-oil deal reached in February 2009 between the 2 countries. Underneath the deal, China makes a $25-billion-lengthy-time period loan to Russia whereas Russia provides China with 300 million tons of oil by way of pipelines from 2011 until 2030.