One third of Russian oil Export to go to Asian-Pacific Region by 2020

Publish date: April 11, 2006

A share of the countries of Asian-Pacific Region in Russian oil export will have risen from 3% to 30%, and from 5% to 25% of gas export by 2020.

Such sufficient rise in supplies is connected with planned implementation of oil pipeline construction from Eastern Siberia to Pacific Ocean with a branch to China. According to the head of Russia’s industry and energy ministry Victor Khristenko, implementation of the first step of this project has started on commercial level. They plan to finish it in the end of 2008.

According to Khristenko, the new oil pipeline will let Russia export Asian-Pacific Region to up to 80 million of tons of oil annually, OIlcapital reports. The head of the Ministry also reminded that the current investigation in Eastern Siberia will let increase gas extraction to 150 billion cubic metres in 15 years.