Nov. 14 – On Nov. 12, the second China-Russia crude oil pipeline project, which took only 456 days to build, was finally completed, Asia Times reported, citing a report from the Chinese publication 21st Century Business Herald. Built by those countries’ two biggest oil producers, China National Petroleum Corp. and Rosneft, the 940 km pipeline from Mohe to Daqing, both in Heilongjiang, will have an annual capacity of 15 million tons. According to the planned volume of pipeline transportation between China and Russia, after the completion of construction, Russian oil transported to China’s northeast by land-based crude oil pipelines will double from 15 million tons to 30 million tons per year.
The first oil pipeline of the China-Russia crude oil pipeline project, from Skovorodino to Mohe, moved 100 million tons of oil from Russia to China between 2011 and May 19, 2017, according to TASS. The second oil pipeline will further improve the safety and reliability of China’s crude oil supplies and make up for old Chinese oil fields like Daqing, Liaohe, which will promote the old industrial bases in northeast area and the steady development of the national economy.
Global Times cited Zhang Hong, a research fellow at the Chinese Academy of Social Sciences, that “importing oil from Russia also has great benefits for China because, first, diversifying oil import sources can reduce the risks of regional politics on domestic economic security. Second, in terms of geography, importing oil from Russia is more convenient than getting it from distant sources like Saudi Arabia.”