Russia ready to let Chinese investors in oil and gas projects in the country, said Arkady Dvorkovich. According to experts, China may enter into new projects, as well as in those that are already being implemented by state companies. In this case, experts warn about the danger of attracting Chinese investors is well illustrated by the example of Kazakhstan, where the Chinese already control 30-40% of the oil fields.
Russia is ready to discuss the issue of providing a controlling stake in the Chinese oil and gas projects partners, said at the Krasnoyarsk Economic Forum Deputy Prime Minister Arkady Dvorkovich. We are talking about strategic fields, except the shelf.
Dvorkovich noted that while requests from China for strategic fields were not. “Maybe because our Chinese friends understand that for us at this stage, more comfortable to work in partnership 50 to 50 or 51 to 49%”, – said Deputy Prime Minister.
«But if there is a request, we will seriously consider, and I political obstacles at the moment I do not see, – said Dvorkovich. – There is a separate issue – the shelf where we invite Chinese partners as a minority, but for most other projects, no such restriction ».
In the projects on the shelf with the Chinese plans to cooperate” Rosneft “. Late last year, the head of the Ministry of Natural Resources Sergey Donskoy reported that the state-owned company was invited to develop the Arctic reserves Chinese partners, but did not name specific projects. Prior to that, she “Rosneft” shows the interest of the Chinese CNPC, CNOOC and Sinopec to the Arctic shelf. Specific agreements have not yet concluded, but before market experts forecast that Chinese investors can get a share similar to that received other partners “Rosneft” Arctic (Statoil, Eni and ExxonMobil, emerged from the cooperation with the Russian company due to sanctions) – 33,3%.
But the “Rosneft” in November last year signed a framework agreement for the sale of 10% of CNPC in the project to develop one of the largest oil fields – Vankor. Vanqor provides about 11% of the production of “Rosneft” and about 4% of the total oil production in Russia, the general reserves are estimated at about 500 million tons of oil and condensate. Previously, market experts said that the price of the deal could be worth $ 1.5 billion.
In addition to cooperation with “Rosneft” China’s CNPC owns 20% of the gas project “Yamal LNG”, which is the majority shareholder of Novatek. The project involves the construction of the plant on the Yamal liquefied natural gas (LNG) capacity of 16.5 million tons per year, as well as infrastructure for storage and shipment of LNG. Gas will be supplied from South Tambeyskoye deposit (reserves – 418 billion cubic meters. Meters of gas and 15 million tons of gas condensate), owned by Novatek. The deal was closed in January 2014, its amount is not disclosed, but according to unofficial information, it was close to the amounts previously paid for the same share in the project of the French Total, – $ 425 million.
Despite the fact that the “Yamal LNG” by a private, not a public company last fall Ministry of Economic Development has recognized the strategic project.
«Rosneft” declined to comment on the question of whether the Chinese company’s shareholders in its projects. “Gazprom” and “Gazprom Neft” the request is not answered. The representative recalled the words of co-owner of Novatek Leonid Michelson, who in January said that its investment Novatek plans to close its own means, funding attracted just under the “Yamal LNG».
Leading Expert Russian Union of Oil Rustam Tankan notes that the strategic fields in undistributed almost gone and most likely the Chinese will be offered shares in the projects that are being implemented by Russian companies.
«On oil – is primarily all Yurubcheno- Tokhomskoye area where besides the Yurubcheno- Tokhomskoye field of “Rosneft” (reserves estimated at about 321 million tons, besides mine has potential in terms of natural gas production. – “Times”) there are many more projects where work The same “Rosneft” and “Slavneft” (joint venture “Rosneft” and “Gazprom Neft”), “- says Tankan.
In the gas sector, according to Tankaeva, the most obvious option seems fields in Eastern Siberia – Kovyktinskoe “Gazprom” (1.5 trillion cubic meters) and the Angara-Lena field (2 trillion cubic meters), which owns a controlling stake in Novatek structures co-owner Gennady Timchenko.
But the Chinese are unlikely to get a controlling stake. Tankan indicates that Kovykta gas and the Angara-Lena deposits of high helium content, and this element is used in the construction of engines for space rockets.
«But do not forget that there are good prospects for the discovery of new large deposits in the East Siberia and the North of Western Siberia – said the expert. – In addition, with regard to oil, there are many so-called border deposits – stocks are a little short of the 70 million tons (which is to achieve a level field goes into the category of strategic) ».
Bringing Chinese investors in Russia neftegazopromyshlennost involves serious risks, said Head of the Department of Oriental Studies HSE Alexey Maslov .
«On the Russian side is obviously a necessary step, Russia needs Chinese money – said Maslov. – However, the Chinese always play vdolguyu. Chinese investment in the oil and gas industry of Kazakhstan did not initially look something dangerous, but now 30-40% of oil fields in Kazakhstan is Chinese control ».
Also, China is beneficial for Russia as a guarantee to the consumer of energy, but in this case, According to Maslow, Russia is firmly tied to China, actually cutting off yourself these attractive partners in the Asia-Pacific region, such as Japan and South Korea.
«In addition, at present energy consumption in China, though growing, but the growth rate is reduced, due to the slowdown in the economy – says Maslov. – In this case, now China, for example, receives large volumes of gas from Turkmenistan and Kazakhstan, so that supplies it is more or less ensured ».
This means that when negotiating position China will be stronger than the Russian and bargain with the Chinese will be difficult.
In addition, the large-scale entry of Chinese companies in the Russian oil and gas production would mean that the initiative to diversify and deepen cooperation, as well as to increase trade turnover between Russia and China finally forgotten. According to Maslow, now the Russian-Chinese trade turnover is about 75% because of the supply of natural resources, especially oil, gas and wood. And instead of leveling the situation will worsen the situation.
«Fears that Russia will become a raw materials appendage of China, acquire under a more solid ground” – Alexei Maslov points.
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