By Katya Golubkova and Robin Paxton

MOSCOW, Feb 17 (Reuters) - China has agreed to lend Russian oil companies $25 billion in return for supplies from huge new East Siberian oilfields that will power its economy for the next two decades, a source close to the talks said on Tuesday.

Russia's state oil champion Rosneft (ROSN.MM: Quote, Profile, Research) and pipeline monopoly Transneft (TRNF_p.RTS: Quote, Profile, Research) signed a long-delayed deal to borrow the money from China Development Bank during talks in China, the source told Reuters.

"The credit was provided by the Development Bank," the source said on condition of anonymity.

Rosneft and Transneft declined immediate comment.

Beijing has abundant cash that Moscow needs to access in the credit crunch as its government is running major deficits and some of its companies are finding it difficult to repay loans and borrow project finance on commercial markets.

China, which is the world's No. 2 oil importer, and has been working hard to win oil supplies from Africa and elsewhere to run its industries, will secure flows from its neighbour.

"Rosneft and Transneft can't borrow easily, so China steps in ... with a lot of funds to lend because of China's huge wealth funds," said Leo Drollas, deputy director and chief economist at the Centre for Global Energy Studies.

"They have trillions of dollars of reserves and they're saying 'we'll lend you this amount to develop the oil fields and the pipeline infrastructure needed' and it will be paid for by deliveries of oil," Drollas added.

The agreement, originally planned for the end of 2008, did not come easily and talks stalled in November last year over disagreements about interest rates and state guarantees China sought from the Russian government.


RUSSIA SEEKS TO DIVERSIFY

The source said the Russian delegation in China this week to revive the negotiations included Deputy Prime Minister Igor Sechin, who oversees the energy sector and chairs Rosneft, Energy Minister Sergei Shmatko, Rosneft President Sergei Bogdanchikov and Transneft President Nikolai Tokarev.

Russia, the world's second-largest oil exporter after Saudi Arabia, is seeking to diversify its exports away from the West and is targeting China as the main market for oil that will be extracted from the new generation of fields in East Siberia.

Interfax news agency reported Rosneft and China National Petroleum Company (CNPC) had signed a final version of the 20-year deal to supply Russian crude.

Although China's energy hungry industry faces a severe slowdown in its export markets, it is keen to ensure energy does not constrain future growth and force up the prices it pays.

"Demand in the Chinese market by the time the crisis is over will be there ... The risk is that we'll have supply bottlenecks which will again push the prices up," Teymur Huseynov, head of the Eurasia department at risk consultancy Exclusive Analysis, said on the sidelines of International Petroleum week in London.

Transneft and CNPC agreed in October to build a pipeline spur to carry 15 million tonnes (300,000 barrels per day) of oil between the countries' trunk pipelines from 2009. (Additional reporting by Paul Lauener and Chris Baldwin; writing by Anthony Barker)

the russians are slowly starting to panic

you see these kind of news in all aereas of their economy, they are desperately trying to get cash sinc etheir reserves are running out slowly






Napoleon auf St. Helena: "Hätte der Himmel gewollt, dass ich als deutscher Fürst geboren wäre und hätten Sie mich einmal zu Ihrem Kaiser gewählt und ausgerufen so scheint mir noch Heute, dass Sie nie von mir abgefallen wären und ich Heute nicht hier sitzen müsste."

Any link?

Hmmmm, I guess China is no longer accepting Russian whores as colateral....

the thing is these un-trust-worthy russians will soon or later do sth stupid and stop the flowing of oil or asking for a better price later.....



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China ain't stupid. This 25 billion isnt given to Russia all at once.

Russian whores and natural resources

Lending to subhumans is a bad investment.

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yeah, their economy is sputtering because it's got the dutch disease: exporting arms, women and resouces....that's all they have got.....they can't make their own underwears......pathetic sub-humans.....

l1o11l1o1l1o1l1o1l1l

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goods sayings chinegooks friends

dutch are a disease with theirs homosexuality paedophilia bestiality prostitution incest drugs drunkards its jungle culture?

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I am old Christiankiller
Sorry for offensive to our good religion christian brothers
I am not hating christians

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Don't worry comrades, the Russians will get their begging bowl out soon for more loans!! LOL




http://en.rian.ru/russia/20090130/119887434.html
excerpt
MOSCOW, January 30 (RIA Novosti) - Russia's GDP growth will be close to zero and budgetary revenues could decline 40% in 2009 amid the ongoing global financial crisis, a deputy prime minister and finance minister said on Friday.

"Our economic growth will most likely be close to zero," Alexei Kudrin told the State Duma, parliament's lower house.

^^^
so are we expecting fresh whores in asian countries ???

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some russian whores yesterday got a hard time in Chinese hands