Chinese Spur Of East Siberian-Pacific Ocean Pipeline Launched

Via Energy Daily, a report that China began work Monday on an oil pipeline to connect its northeastern border with crude-rich Russia.  As the article notes:

“…China’s Vice Premier Wang Qishan launched the project, which will link the Siberian border town of Mohe with refineries in China’s Daqing city over 900 kilometres (558 miles) away, Xinhua news agency said.

The construction is part of a 20-year deal signed in April between the two nations that will pump 15 million tonnes of Russian crude annually into China when the pipeline is completed in 2010.

As part of the agreement, China will help finance Russian oil firms Rosneft and Transneft with a total of 25 billion dollars in loans.

The pipeline is a spur of the East Siberian-Pacific Ocean pipeline that is currently under construction and will transport Russian crude from Siberia to a terminal on its eastern coast.”

This entry was posted on Wednesday, May 20th, 2009 at 9:39 am and is filed under China, Russia.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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