Recently, PetroChina(CNPC) and its Russian partners signed a number of cooperation documents, opening up a new situation for further strengthening mutually beneficial cooperation in oil, natural gas, new energy and other fields.

Expand oil and gas trade and deepen the foundation of cooperation. On February 3, CNPC and Gazprom signed a Sino Russian Far East gas purchase and sale agreement. The Sino Russian natural gas pipeline was put into operation in December 2019, which is another important achievement of the Sino Russian natural gas pipeline. On February 4, CNPC and Rosneft signed a supplementary agreement on the crude oil purchase and sales contract to ensure the oil supply of refineries in Western China. As of January 2022, PetroChina has imported more than 300 million tons of pipeline crude oil and more than 15 billion cubic meters of natural gas from Russia. The signing of the above cooperation documents will further consolidate the resource base of northeast and Northwest China's energy channels and lay a solid foundation for deepening long-term cooperation in the oil and gas field between China and Russia.

Focus on green and low carbon and help achieve the goal of "double carbon". On February 4, Dai Houliang, chairman of CNPC, and Xie Qin, President of Rosneft, jointly signed the memorandum of understanding on cooperation in the field of low-carbon development. The two companies will strengthen dialogue and exchanges in the field of low-carbon development and jointly help enterprises achieve the goals of green, low-carbon, high-quality development and "carbon neutrality". PetroChina resolutely implements the major strategic deployment of carbon peak and carbon neutralization, takes green and low-carbon as one of the company's five development strategies, formulates a three-step development path of clean substitution, strategic succession and green transformation, and actively promotes the transformation to a comprehensive energy company with complementary oil, gas, heat, electricity and hydrogen. As the official partner of the Beijing Winter Olympics, PetroChina has provided energy security such as oil, gas and hydrogen for 14 Winter Olympics venues to help the "green winter Olympics" with practical actions.

Strengthen energy cooperation and promote the deepening and implementation of China Russia relations. Since 2021, as an important part of China Russia relations and practical economic and trade cooperation, bilateral energy cooperation has continued to burst new vitality and made positive progress. As one of the world's major oil and gas producers and suppliers, PetroChina has participated in a number of major cooperation projects in promoting the stable operation of Sino Russian cross-border oil and gas pipelines, expanding oil and gas trade and strengthening the development of liquefied natural gas in the Arctic, and has continuously expanded new directions of cooperation in carbon management, carbon capture and storage, green energy and so on, Promote the deepening and implementation of the China Russia comprehensive strategic partnership of coordination in the new era with practical actions.

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