Mr. Sayenko said that the length of the pipeline from Taishet (Eastern Siberia, the Irkutsk region) to Perevosnaya Bay in Primorye will be 4,368 kilometers. Forty-four compressor stations will be installed along the line with overall capacity of 4 million and 250 thousand cubic meters. A modern oil terminal will be built in Perevosnaya Bay. The cost of the project is estimated at about $11 billion.
According to Mr. Sayenko, Russia has 12% of global oil reserves, although the levels of their exploration in the east and the west of the country differ significantly. For instance, 12% of oil and gas fields are currently explored in the Russian Far East, and less than 8% -- in Eastern Siberia.
Considering that the share of Asia in the overall volume of exports of Russian fuel-carriers by 2015 will increase from 3% to 15%, the Russian Ministry of Economic Development and Industry is facing the task of analyzing the information received from various companies and calculating the estimated expenses.
At the same time, Mr. Sayenko said, the ministry has to evaluate technical conditions of the existing oil pipeline connecting Western Siberia and Taishet, because "during the first phase the new pipeline will be partially pumping oil from Western Siberian fields."
He also said that the ministry had prepared a project of long-term cooperation with Japan and is currently working on a similar project for South Korea.
In addition, the ministry is preparing a series of amendments to the Russian Tax Code in order to increase effectiveness of the pipeline project and its production infrastructure, Mr. Sayenko reported.
