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Igor Sechin makes a report at the Eastern Economic Forum

04 September 2015

Energy Bridge Russia – APR session was held during the Eastern Economic Forum in Vladivostok. Igor Sechin, Rosneft Chairman of the Management Board, was the keynote speaker at the session.

The list of speakers at the session also included Russian Energy Minister Alexander Novak; Chairman of the Board of Directors of INTER RAO UES Boris Kovalchuk; Chairman of CNPC Wang Yilin; Chairman of Mitsui Board of Directors Masami Iijima; Marubeni CEO Fumiya Kokubu; President of ESSAR Group Ravi Ruya; Chairman of the Management Board of FGC UES Andrey Murov; CEO of Damen Shipyards Group Rene Berkvens; General Director of GE Oil&Gas Russia/CIS Sergey Tazin.

Also the session was attended by the heads of the world leading energy companies, including co-owner, President and Managing Director of ONGC Videsh Narendra Verma; Vice President of China Development Bank Li Jiping ; President of Sinopec Li Chunguan; Chairman of the Board of Directors of SODECO Mitsuru Saito; Chairman of the Management Board of Mitsubishi Corporation Kojima Ёrihiko; CEO of Royal Dutch Shell Ben van Bearden; President of BP Russia David Campbell; President of ExxonMobil Russia Glenn Waller; Senior Vice President of TOTAL Europe - Central Asia Mike Borrell; and President and CEO of KOGAS Lee Seung-hun.

In his report, Igor Sechin spoke about the Asia-Pacific energy markets and the opportunities of Rosneft. "By virtue of geographic proximity, the huge energy reserves and in general favorable conditions for their extraction, the energy supplies from Russia are the most competitive at the markets in the Asia-Pacific region", – he said. According to him, the annual supply of crude oil and petroleum products from Russia increased 20 times over the past ten years to achieve 36 million tons, with an upside potential to 50 million tons by 2020.

"Three-quarters of this volume, or 28 million tons account for Rosneft" – Sechin said. - Over the last decade, we have delivered more than 150 million tons of oil and oil products to China having increased the deliveries by almost 5.5 times, from 5.1 million tons in 2005 to 28 million tons."

The Company plans to supply over 800 million tons of oil and petroleum products to China by the year of 2038; taking into account the both-way trade turnover based on the existing contracts, the total scope of the Company's cooperation with the Chinese partners will exceed $ 500 billion by 2035.

Among other things, Igor Sechin discussed the projects of Rosneft in East Siberia, Far East and on the Russian shelf. "We are actively working with Chinese partners in the implementation of investment projects - Sechin said. - Rosneft has already invested about $5 billion USD in joint projects with the Chinese partners; these are Sakhalin-3, Udmurtneft and Vostok Energy.

Rosneft Information Division
Friday, September 04, 2015