Potential of China＇s Natural Gas Industrial Development and Prospect for Chinese - Russian Cooperation

With development of the friendly bilateral relations, China and Russia are expanding their cooperation in the economic and trade fields. When Hu Jintao, President of China, visited Russia in May 2003, China National Petroleum Corporation (CNPC) and Yugos, a Russian oil company, signed “Framework Agreement on Long-term Crude Purchase Through Chinese-Russian Crude Pipeline Contract” and“Contract for Purchase of 6-Million-Ton Crude by Railway.”