The Russian government thinks over building a deepwater port in Murmansk.
This port would allow large tankers to ship oil to U.S. markets and expand market of Russian oil. The construction of new pipelines to ship crude from western and eastern Siberia to the port of Nakhodka would pave the way for the oil industry to supply as much as 11 percent of U.S. imports.
The port project would probably cost $2.5 billion and need foreign investments.
Marathon Oil Corp. and Rosneft announced their desire to import Russian crude to the United States by the third quarter of 2003.