CGGC Attends the 23rd St. Petersburg International Economic Forum

From June 6 to 7, CGGC attended the 23rd St. Petersburg International Economic Forum held in St. Petersburg, Russia upon invitation. Lyu Zexiang, General Manager of CGGC International and Deputy Secretary of the Party Committee, attended the Opening Ceremony of the Russia-China Energy Business Forum and Meeting of Heads of State of China, Russia and Some Entrepreneurs on behalf of CGGC.

Scene of the Forum

The St. Petersburg International Economic Forum is the most important international large economic forum in Russia and one of the important platforms that gather leaders of new economic powers, which is called “Russian Davos”. The forum mainly focuses on key economic issues facing Russia, emerging markets and the world as a whole. It is of great importance to Russia-China cooperation and enterprises’ internationalization in the Far East. President Xi Jinping attended the forum and delivered a speech entitled “Upholding Sustainable Development and Creating a Prosperous and Beautiful World”. He stressed that facing the world’s profound changes unseen in a century, the Chinese side stands ready to make joint efforts with the international community to create an open and pluralistic world economy, a happy society that is inclusive and benefits all, and a beautiful homeland with harmonious coexistence between humanity and nature, and explore a new path of sustainable development.

Lyu Zexiang Visits Vice President of Rosneft Oil

During the forum, Lyu Zexiang also had talks with a variety number of partners about cooperation in the upstream-downstream integrated investment, construction and operation in such fields as oil & gas, chemicals, power and new energy in Russia, including Vice President of Rosneft Oil, Deputy General Manager of ESN Group, Vice President of Pocatom, Chairman of SPIMEX, General Manager of Yanchang Petroleum Group, and Chairman of China-Russia Regional Cooperation Development and Investment Fund. All these partners invited CGGC to keep increasing its resource input in the energy market in Russia, thus making joint efforts to push the energy cooperation between the two countries to a higher level.

As President Xi Jinping pointed out in his speech at the Russia-China Energy Business Forum, China and Russia are comprehensive strategic partners with deepened cooperation in various fields. Among all these fields, the two countries value the energy cooperation most, with the most achievements made and widest scope covered. As a representative enterprise of energy cooperation between the two countries, CGGC has always regarded Russia as its important overseas strategic market and has continuously accelerated the development of power, oil & gas, chemical, renewable and other markets in Russia.

Construction Site of Amur Gas Processing Plant

In July 2017, CGGC International successfully set foot in oil & gas market in Russia and signed the contract for the Amur Gas Processing Plant with the contract amount of RMB 10 billion. The Project represents an important milestone of the pragmatic cooperation between the two countries in the energy field, the signing of contract for which is another major breakthrough made by CGGC in the development of international oil & gas market. Located in Svobodny, Amurskaya Oblast, Russia, which is the source of the Eastern Section of Sino-Russian Natural Gas Pipeline, the second largest energy corridor between China and Russia, the Project will become one of the largest natural gas processing plants in the world upon completion. On August 3, 2017, Russian President Vladimir Putin attended the commencement ceremony of the Project.

Russian President Vladimir Putin Attends the Commencement Ceremony of Amur Gas Processing Plant Project

The Project is constructed in 3 bid sections, and CGGC International undertakes Section P1 with the construction period of 81 months. So far, earthwork excavation, piling, concrete pouring and other works in Phase I, II and III of the Project have been completed, and foundation pit earthwork excavation of Phase IV has been commenced, which is about 6 months ahead of schedule. CGGC International has won the unanimous praise from the owner and relevant partners for its good performance in the previous four phases.

In the new era when the comprehensive strategic partnership between China and Russia keeps advancing, CGGC will give positive response to President Xi Jinping’s initiative to consolidate and deepen the energy cooperation between China and Russia. CGGC will strengthen consultation and contact with Russian partners, and make joint efforts with them to identify proper cooperation projects and continuously deepen all-round integration cooperation in the upper, middle and lower reaches, thus promoting the upgrading of energy cooperation between China and Russia and accelerating the sustainable energy development worldwide.