Prior to his keynote speech, Wen also presented awards to Russian individuals who have made significant contributions to China-Russia energy cooperation, especially those working on the China-Russia oil pipeline.

Chinese Premier Wen Jiabao (L) meets with Moscow Mayor Sergei Sobyanin in Moscow, capital of Russia, Nov. 24, 2010. [Xie Huanchi/Xinhua]

Wen said a long-term, stable partnership on energy cooperation serves the interests of both countries and highlights the accomplishments that the two nations have achieved in the sector.

He said bilateral cooperation on oil, natural gas, nuclear energy and power generation has "stepped on the fast track."

In August, Russia officially launched its section of a pipeline that will deliver east Siberian oil to China. The pipeline is expected to be operational by the end of 2010.

The pipeline is part of a long-term loan-for-oil deal reached in February 2009 between the two countries.

Also on Wednesday, Wen met with Moscow Mayor Sergei Sobyanin here, expressing hope that Moscow could create favorable conditions for Chinese companies to establish businesses.

"Prime Minister Vladimir Putin and I both agreed to tap the huge potential of cooperation between the two nations at local level," Wen told Sobyanin, acknowledging the good cooperation on trade, education and culture established between Beijing and Moscow.

"I hope the two capital cities could continue to play a leading role to promote China-Russia cooperation," Wen said.

Echoing Wen's views, Sobyanin said Moscow is committed to working with Beijing and other Chinese cities and provinces to step up cooperation on reshaping bilateral trade structure as well as on finance and technological innovations.

Wen arrived in St. Petersburg on Monday to pay an official visit to Russia. In St. Petersburg, he held talks with Russian Prime Minister Vladimir Putin and attended the signing ceremony of a dozen of bilateral cooperation agreements.

Later on Wednesday, Wen flew to Dushanbe for an official visit to Tajikistan and the ninth prime ministers' meeting of the Shanghai Cooperation Organization (SCO).