Wang Yilin attends 4th Eastern Economic Forum

On September 11, The 4th Eastern Economic Forum (EEF) kicked off in Vladivostok, Russia's Far Eastern port city. CNPC Chairman Wang Yilin was invited to attend the opening ceremony of the forum and delivered a speech at the panel session entitled "Crossroads on the Silk Road".

At the panel session, Wang Yilin shared his views with Russian government departments, and representatives from relevant organizations and entrepreneurs on the building of Belt and Road, the interface of the Eurasian Economic Union, efforts to achieve mutual benefit for enterprises and ways for western enterprises to jointly participate in mega project management. They had heated discussions on these topics.

In his speech, Wang Yilin pointed out that more than a decade of hard work has put China-Russia energy cooperation on fast track. The establishment of a comprehensive strategic partnership between China and Russia and the implementation of the Belt and Road Initiative have provided a new platform for promoting China-Russia oil and gas cooperation, while the strategic correspondence of the Belt and Road and the Eurasian Economic Union provides more new opportunities for China-Russia oil and gas cooperation throughout the industry chain.

Wang Yilin added that as an integrated international energy company, CNPC is one of the first enterprises to carry out investment and cooperation along the region of the Belt and Road. At present, the company has investment in 52 projects in 20 countries along the Belt and Road, boasting a pioneer and major player in the building of the Belt and Road. Abundant in oil and gas resources and blessed with broad market space, common demand for cooperation and a solid foundation for cooperation, the Belt and Road region, especially the Eurasian region, is the most dynamic and promising region for future global oil and gas cooperation. Oil and gas cooperation between China and Russia is a top priority in such cooperation. Therefore, deepening oil and gas cooperation between China and Russia will surely help both Chinese enterprises and Russian enterprises promote their international operation and management capabilities and exert a positive and profound impact on the global oil and gas supply and demand landscape.

Wang Yilin called on Chinese and Russian enterprises to actively implement the strategic consensus reached by the high-level leaders of China and Russia and promote the building of a new type of oil and gas partnership between European and Asian countries with new ideas, new models and new mechanisms. In oil and gas cooperation, the two sides should particularly follow international practices and the principle of mutually benefitial and common development in a pragmatic and professional manner, take practical measures for specific cooperation projects to produce practical results, and work together to solve bottlenecks and challenges in the course of cooperation for win-win outcomes for all.