Electricity Trade Flourishes
By
Jiang Wei (China Daily)
Updated: 2006-03-23 06:20
China
and Russia are poised to expand electricity trade,
a major step toward co-operation in the energy sector.
"We
expect to realize a large-scale cross-border electricity
supply during the next 10 years," said Zheng Baosen,
executive vice-president of State Grid Corporation
of China.
This
year, Zheng's company and the largest electricity
producer in Russia are scheduled to launch a feasibility
study of plans for Russia to supply electricity to
China.
According
to the plan, the Chinese company will increase its
current electricity import from Russia by fourfold,
up to 18 billion kilowatt hours by 2010.
By
2015, Russia's electricity supply will not only reach
Heihe of Northeast China's Heilongjiang Province,
but also the electricity grid across Northeast and
North China.
After
a long-term co-operation agreement was signed between
the two companies last July, they have already fixed
the method of supply, volume and pricing principles
for the supply through Heihe.
Some
Russian entrepreneurs have suggested the two countries
should turn more attention to co-operation concerning
production of electricity appliances.
Experts
said China and Russia compliment each other in terms
of the electricity market. China has grown into a
huge electricity consumer with potential of further
growth, while Russia, abundant with waterpower, is
able to produce electricity beyond its domestic demand.
The
joint electricity project is not the only move the
two countries have made to expand their co-operation
on energy and resources.
Russia
and China agreed to build two major gas pipelines
to ensure Russian gas supply to China.
The
agreement, expected to cost around US$10 billion,
was signed by China's largest energy firm the National
Petroleum Corp (CNPC) and Russian natural gas giant
Gazprom.
More
Chinese companies are seeking business opportunities
in the neighbouring country.
China's
top coal miner Shenhua Group was also interested in
coal exploration in Russia, said Shenhua Vice-President
Zhang Yuzhou. But he declined to elaborate on details.
(China
Daily 03/23/2006 page9)
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