On September 24th, visiting Premier Wen Jiabao and Prime Minister of Russia Fradkov held the Ninth Regular Meeting between the Premier of China and Prime Minister of Russia in Moscow.

On September 24th, 2004, Chinese Premier Wen Jiabao and Russian Prime Minister Fradkov declared to the media that China and Russia would strengthen their cooperation in the field of petroleum and natural gas and both sides have finalized the target of cooperation in the next few years.

The statement was made by Chinese Premier and Russian Prime Minister when they met the press after the Ninth Regular Meeting.

Premier Wen Jiabao said when he answered the question of the journalists that cooperation in the field of petroleum and natural gas is an important area of the trade and economic cooperation between the two countries. The two sides have reached the following four consensuses on the issue. First, President Putin stated that Russia would "unswervingly" strengthen its cooperation with China in the field of petroleum and natural gas. Second, the Russia side promised to study the feasibility of building pipelines for petroleum on the Far East and it would actively think about building the pipelines to China. Third, both sides agree to increase petroleum trade through land transportation so that by 2005, the petroleum exported from Russia to China will reach 10 million tongs and the figure will rise to 14 million tons in 2006. Fourth, both sides agree to reach into an agreement on the development of natural gas.

Fradkov said that Premier Wen Jiabao discussed with him the cooperation of petroleum and natural gas between the two countries. This was also a pressing issue between the trade and economic relations between the two countries. He said that the two sides had exchanged views on the current situation and future of the cooperation and had reached agreement on the target of future cooperation. He said that the Russian side is willing to work together with China and fundamentally solve the current issue. He said the Russian government was willing to provide all necessary conveniences to cooperation in the field of petroleum and natural gas so that the two countries can realize the target. Both sides agreed to sign an inter-government agreement on natural gas cooperation, which conforms to the policy of Russia to develop Siberia and Far East areas. He said that in the future, a large part of China's investment to Russia will be in the field of petroleum and natural gas cooperation.