Registration was successful!
Please follow the link from the email sent to

Russia hopes to earn $1.8 bln from oil sales to China

© SputnikRussia hopes to earn $1.8 bln from oil sales to China
Russia hopes to earn $1.8 bln from oil sales to China - Sputnik International
Subscribe
Russia expects to earn 57 billion rubles ($1.8 bln) annually from oil exports to China, Energy Minister Sergei Shmatko said on Friday.

MOSCOW, July 3 (RIA Novosti) - Russia expects to earn 57 billion rubles ($1.8 bln) annually from oil exports to China, Energy Minister Sergei Shmatko said on Friday.

The two countries reached an agreement to build a Chinese leg of the East Siberia-Pacific Ocean (ESPO) oil pipeline in October 2008. The pipeline's first leg was launched westwards, in reverse mode, on October 4, 2008.

The Chinese section, to run from Skovorodino in the Russia's Far East to Mohe in northeast China's Heilongjiang province, is designed to diversify Russian crude supplies from oil fields in Siberia.

Sergei Shmatko said the construction cost of the leg, due to be completed by late 2010, has been estimated at 11-12 billion rubles ($352mn-$324mn).

Russia "is sure to complete this work. There will not be any major problems," the minister said.

 

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала