May 21, 2014 05:07 pm | Flynt Leverett , Hillary Mann Leverett
Flynt Leverett , Hillary Mann LeverettOil, Russiahttp://nationalinterest.org/feature/the-sino-russian-hydrocarbon-axis-grows-10508
Russia and China have just concluded a $400 billion gas agreement. Washington should take notice.
Eight years ago, in the pages of The National Interest, Flynt Leverett and Pierre Noël identified a “new axis of oil”—a “shifting coalition of both energy exporting and energy importing states centered in ongoing Sino-Russian collaboration”—that was emerging as an increasingly important counterweight to the United States on a widening range of international issues. While, at the time, Russian oil and gas exports to China were negligible, Leverett and Noël projected that Russian hydrocarbons would become “a major factor buttressing closer Sino-Russian strategic collaboration” in the future.Western analysts have long been skeptical of the prospects for sustained Sino-Russian cooperation—but over the last eight years, the new axis of oil has become undeniable market and geopolitical reality. Russia is now one of China’s top three oil suppliers (with Saudi Arabia and Angola) and is set to grow its oil exports to China significantly in coming years. While some analysts cite Chinese firms’ acquisition of upstream positions in Kazakhstan and Turkmenistan and the opening of a Turkmen-Chinese gas pipeline as signs of Sino-Russian competition in Central Asia, these moves supported Moscow’s interest in keeping Central Asian hydrocarbons from flowing west and undermining Russia’s market dominance in Europe. And this week—just hours after Foreign Policy headlined “the deal that wasn’t”—Russia and China concluded a $400 billion gas agreement, marking a major step in the maturation of the (let’s now call it) Sino-Russian “hydrocarbon axis.”
Read full article
No comments:
Post a Comment