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Japan may invest $1bn in Russian oil pipeline

Japan is ready to kick in $1bn to lay the Angarsk-Nakhodka oil pipeline, Sergey Darkin, Governor of the Primorski region, reported. The offer was made by President of Japan's National Oil Corporation Yoshiro Kamata. Japan plans to invest $500m in the oil pipeline itself and another $500m in the construction of an oil port. Japan also intends to contribute to oil production and refining in the Far East.

According to preliminary estimates, the oil pipeline project's total cost will amount to some $5bn, and 50m tons of oil a year are expected to be transported via the pipeline.