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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Putin opens Russian side of oil pipeline to China AFP - Monday, August 30 Send IM Story Print Putin opens Russian side of oil pipeline to China MOSCOW (AFP) - – Prime Minister Vladimir Putin on Sunday opened the Russian section of a long-awaited oil pipeline that will carry Russian crude to China in a bid to diversify its oil exports away from Europe. "The Russian part of the project is completed," Putin said at an opening ceremony in Skovorodino in the Far Eastern Amur region in comments published on his official web site. The branch pipeline will ultimately transport crude oil from Siberia to refineries in the northeastern Chinese city of Daqing. "For us this is an important project because we are beginning to diversify the supply of our energy resources," Putin said at the ceremony, attended by the head of China's National Energy Administration, Zhang Guobao. "Up to now, the main supplies have been delivered to our European partners. And still today our European partners get around 120-130 million tonnes of Russian oil." The pipeline will initially carry 30 million tonnes of oil a year to the energy-hungry Asia-Pacific region and will later build up to 50 million tonnes, Putin said. "This is already noticeable competition with the European route," Putin said. The Chinese side still needs to build 930 kilometres on its territory to link up the pipeline, he said, but added that Russia is "absolutely sure that Russian oil will run to China this year." Last year, the Russian oil pipeline monopoly Transneft completed the construction of the first 2,694-kilometre (1,600-mile) section of the oil pipeline, which originates in Taishet in eastern Siberia. Transneft in October 2008 signed an agreement with the Chinese oil group CNPC on the construction of a 67-kilometre branch line to China Recommend Send IM Story Print News Search Top Stories Gun rampage leaves seven dead in Slovakia US spending, incomes edge upward Japan announces 920 bln yen stimulus package Sweden's HQ Bank announces involuntary liquidation Child health at risk from non-prescription drugs: study More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Earth's upper atmosphere shrinking, scientists say Russian spy courts new scandal with racy photo shoot Joy and tears greet US Army troops back from Iraq Paris Hilton arrested for cocaine possession Child health at risk from non-prescription drugs: study More Most Viewed » Obama endorses mosque plan near Ground Zero Earth's upper atmosphere shrinking, scientists say Tiger's ex breaks her silence on sex scandal Belgian man dies of South Asian superbug Most US students think Beethoven is a dog More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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