China discontent that its offshore oil corporation is considered a “war sponsor”

China informed Ukraine about the negative consequences for bilateral relations. The reason was the inclusion of Chinese companies in the list of war sponsors.

Reuters  writes about this with reference to its own sources.

For example, NAZK included 14 Chinese companies in the list of “international sponsors of war”. In particular, it included giant corporations, including the China National Offshore Oil Corporation (CNOOC Group).

Read also: Chinese companies ask to be exempted from sanctions regarding the Russian Arctic LNG-2 project.

The publication noted that as a result, China did not put forward any conditions or “temporary framework” for Ukraine, but simply expressed its point of view regarding the list.

According to an anonymous source, Beijing can connect this issue with Chinese purchases of Ukrainian grain. In 2023, China became the second importer of Ukrainian agricultural products among all countries in the world, the total amount of purchases was 2.22 billion dollars.

Through the new sea corridor, about 30% of Ukraine’s sea exports, including food, metals and ore, were sent to China.

As previously reported by USM, Russia is negotiating with China on the development of the shipbuilding industry.

Note.

CNOOC Group is China’s third-largest national oil company, the country’s largest offshore oil and gas producer.

The CNOOC subsidiary has a 10% stake in the Arctic LNG-2 project. Capital investments for the launch of “Arctic LNG-2” are estimated at $21.3 billion. In July 2023, as part of this cooperation, the first natural gas liquefaction (LNG) line, the so-called “floating plant”, was completed and launched.

Arctic LNG-2 is a key element of Russia’s ambition to increase its share of the global LNG market from around 8% to a fifth by 2030.