Russian pipeline to reach China soon
08-04-09
A long-awaited oil pipeline from Russia is expected to reach China within
weeks, Russian Prime Minister Vladimir Putin said. He told lawmakers that
Russian state oil pipe builder Transneft will soon finish laying the pipes.
Media have reported the 67-km pipeline link -- the first between the two
countries -- will deliver 300 mm tons of oil to China between 2010 and 2030.
The figure is equivalent to 15 mm tpy, or 7 % of China's oil consumption
last year.
The two countries began discussions on the construction of the pipeline in
2001, but an agreement was not reached until last October, when China
promised a $ 25-bn loan to the Russian oil sector.
The Sino-Russian pipeline is part of the 4,700-km East Siberia-Pacific Ocean
line, which is designed to export Russian crude oil to Asia-Pacific markets.
Professor Xia Yishan, an energy expert at the China Institute of
International Studies, said the pipeline would make Russian oil a "more
straightforward, consistent and long lasting" alternative to Middle East and
African sources, which currently make up 80 % of China's oil imports.
"Oil imports from Russia will diversify China's energy sources, which
guarantees its strategic need for the crude," Xia said.
Pan Zhanlin, an expert in Sino-Russia relations, said energy cooperation
between the two neighbours also helps Russia to counter the global financial
crisis.
"Russia needs the Chinese market," Pan said.
Russia now exports 9 mm tons of oil a year to China via railway.
Source: http://english.people.com.cn
/ China Daily |