13:12 GMT31 July 2021
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    Russia Holds Its First Eastern Economic Forum (44)
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    Alexander Novak said oil deliveries to the Asia-Pacific region could increase significantly in the next five years.

    VLADIVOSTOK (Sputnik) – Russia’s energy export to the Asia-Pacific region is expected to increase 2.5-3 times by 2035, while the country’s oil export to the region will grow 3.5 times by 2020, Russian Energy Minister Alexander Novak said at the Eastern Economic Forum (EEF) on Friday.

    "Russian energy policy objectives in the eastern direction include the diversification of energy exports. The increase of energy export in the eastern direction 2.5-3 times by 2035 and the increase of the share of the Asia-Pacific region in the total export of fuel and energy from Russia to a level of 36-39 percent are major steps in that direction," Novak said.

    According to the Russian energy minister, an increase in liquid hydrocarbon export is expected in the eastern direction as well.

    "In the coming five years oil deliveries from Russia to the Asia-Pacific region could go up to account for 28-30 percent of the total export of Russian oil," Novak said.

    Russia Holds Its First Eastern Economic Forum (44)


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