China will receive 400 thousand tons of undelivered Russian oil in 2016-2017

Almaty. November 19. Silkroadnews - China in 2016-2017 will receive 400 thousand tons of undelivered this year Russian oil, reported the newspaper "Vedomosti".
According to the protocol of the intergovernmental Russian-Chinese oil supplies, "Rosneft" has two contracts with Chinese CNPC.
The first contract was signed in 2009 and includes an annual supply of 15 million tons of oil via the Skovorodino - Mohe - Daqing until 2030. In 2013, the parties agreed to an export of 365 million tons of Russian oil to China for 25 years. This agreement provides a gradual increase with the expansion of the challenge. But in 2014, China has informed Russia that it does not have time to expand its portion of the tube due to tightening environmental requirements for pipelines. As a result, in November 2014 "Rosneft" and CNPC signed a technical agreement to the export contract, that provides an additional point in addition to the removal of oil supplies from the East Siberia-Pacific Ocean (ESPO). This trend has become a port of Kozmino with a capacity of 31.5 million tons.
Agreement of 2013 provides that in 2015-2017 "Rosneft" will sell China an additional 5 million tons per year, for a total of 20 million tons in 2015 on two fronts: on the pipe and through the port. The representative of "Transneft" said that this year on the challenge Skovorodino-Mohe, "Rosneft" exports 16 million tons, the plan for 2016 - is 16.5 million tons. Apart undersupplied 400 thousand tonnes, the quota of "Rosneft" in the port of Kozmino amounted to 3.6 million tons. It is expected that in the 2016-2017 biennium. annually through the port of Kozmino, "Rosneft" will supply as much as in 2015, according to the report.
Since 2018 deliveries should be made only on the challenge Skovorodino-Mohe-Daqing. From this year until 2037, and the second additional volume of oil is 15 million tons a year, in the first half of 2038 - 7.5 million tons. The Chinese side assured that before the end of 2017 it will complete all work on the expansion of its portion of the tube.
In addition, "Rosneft" sold 7 million tons of oil annually to China through Kazakhstan on the swap scheme.In which areas "Rosneft" will supply 400 thousand tons, the parties will determine later specified in the protocol. Supply of oil through Kozmino want all oil companies, so "Transneft" is now expanding ESPO.
According to the contract of 2009, "Rosneft" has received a loan of $15 billion. The second contract involves an advance payment of about $70 billion. Analysts of JPMorgan say that in 2014-2015 "Rosneft" has already received about $ 33 billion.
In 2014, the Russian company supplied 22.6 million tonnes to China and the whole Asia-Pacific countries - about 33% of exports. By 2019, the share of exports in the eastern direction will reach 40%, said the president of "Rosneft" Igor Sechin.
The IEA predicts that the daily consumption in the country will grow in 2030 by 35% to 16.9 million barrels of oil. (845 million tons). In January - September, China increased its oil imports by 8.8% to 248.62 million tons. Russia - its second largest supplier after Saudi Arabia.