Subscribe to our news feedRussia launches new oil pipeline plan
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Published on Wednesday 13th January 2010
Russia has lunched a new oil pipeline plan which is expected to strengthen its ties with Asia, it has been reported. According to Wojciech Kononczuk, an analyst at the Warsawbased Centre for Eastern Studies, the new East SiberiaPacific Ocean (ESPO) pipeline would significantly increase the countrys oil sales on Asian markets. EurActiv reports Konoczuk as saying: "Its main objective is to diversify Russias oil exports by significantly increasing sales on Asian markets at the expense of Europe. "The other key task of the ESPO is to accelerate the development of oil fields in Eastern Siberia and the economic development of the Far Eastern region." The first section of the new pipeline was officially put in place by Russian prime minister Vladimir Putin on December 28th. Last month, Russias oil pipeline operator Transneft said it was considering taking on a 50 per cent stake in the SamsunCayhan pipeline in return for increasing crude volumes. The Russians are exepcted to meet with stakeholders to discuss the issue further in the second half of January. 
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