Current state and prospects of cooperation in the energy industry of China and Russia

Relevance. Global energy competition is intensifying. However, problems such as high dependence on foreign oil and natural gas, concentrated import sources and the need to change the structure of energy consumption have always threatened China’s energy security. As the largest energy country, Russia has abundant oil and natural gas resources, while China, as the largest energy consumer, has huge energy demand. China-Russia energy cooperation not only strengthens the economic ties between the two sides, but also promotes regional stability, and development. The purpose of the study is to analyze the status and problems of development of Chinese-Russian energy cooperation. To forecast the volume of oil and gas exports from Russia to China by 2030, which is the basis for effective promotion of Chinese-Russian energy cooperation. The graphical method and SPSS statistical software were used to predict the oil and gas export volume from Russia to China by 2030. Scientific novelty. The integration of quantitative forecasting and qualitative analysis of cooperation prospects and institutional barriers in the context of the Chinese-Russian energy partnership was carried out, which made it possible to identify the dependencies between market, technological and political factors. Conclusions. The volume of oil and gas trade between China and Russia is increasing. Russia’s energy exports to China will continue to grow from 2024 to 2030. It is predicted that in 2030, Russia’s oil exports to China will reach 171 million tons, and natural gas exports will reach 20.265 million tons.