Source Pravda.Ru

PM on laying oil pipeline to China

The Russian government has adopted a principled decision to construct an oil pipeline from Angarsk to Nakhodka with a branch pipeline to Dacin (China), Russian Prime Minister Mikhail Kasyanov told journalists. He added that "the concrete route has not been defined yet". According to him, ministers and agencies are to carefully estimate and submit corresponding calculations to the government by May 1, 2003. At the same time, there are fears that oil resources might not be enough for being pumped through the planned pipeline.

In the summer of 2001, YUKOS, Transneft and the Chinese National Petroleum Corporation signed an agreement to elaborate on a project to construct a pipeline from Russia to Dacin. The expected amount of Russian investments in the construction of the oil pipeline in 2001-2010 is more than $1.2bn. The capacity of the pipeline is to be 30m tons of oil.

At the same time Transneft has worked out a project on laying a pipeline from Angarsk to the port of Nakhodka to have the possibility to export oil to countries of the Asia Pacific region. The expected capacity is 50m tons. The construction is to be finished in 2008-2010.

Later a project of laying the oil pipeline Angarsk-Nakhodka with a branch pipeline to Dacin was proposed.