These two transactions, totaling more than $25 billion is seen as advancing cooperation between Russia and China in the energy industry, said Steven Wardlaw, Partner In Charge of the Moscow office of Baker Botts and a lead lawyer in the negotiations. The agreement that was reached between Rosneft and Chinese representatives presented a number of complex international financial and legal issues that required detailed discussions about how the agreement needed to be structured in order to benefit both countries.
Officials expect product covered by this agreement to start flowing from Russia on a spur of the East Siberian Pacific Ocean Pipeline that runs into the northwest corner of the People’s Republic of China early in 2011.
