Sputnik, a Russian news agency, quoted senior officials of the State Grid Corporation of China on Monday that China intends to cooperate with Russia to develop nuclear power and wind power projects in the Arctic region. China and Russia will deepen energy cooperation.
Ou Xiaoming, chief representative of China State Grid Corporation, indicated that except for the cooperative agreement to build nuclear reactors in China, two countries will also develop Arctic wind energy resources.
The senior official of State Grid Corporation stated that, “Using the national grid’s advantages in renewable energy storage technology and high-voltage power transmission, both countries are capable of promoting renewable energy development to replace traditional fossil energy. This is of great significance to Russia’s plan to optimize the global energy matrix.
In April of this year, Russian natural gas producer Novatek signed an agreement with two Chinese companies. Under the agreement, the two Asian companies will become shareholders of the Arctic LNG project, each holding 10% of the shares. CNOOC and China National Petroleum Corporation (CNPC), a wholly-owned subsidiary of China National Petroleum Exploration and Development Corporation (CNODC), are now shareholders of the Arctic LNG project, each holding 10% of the shares. Last month, partners in the Arctic LNG joint venture passed the final investment decision for the plant, and the plant is expected to be launched in 2023.
