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Pipeline is tangible signal of Russia's eastern priorities

By The Siberian Times reporter
27 December 2012

President Vladimir Putin this week unveiled a new $25 billion pipeline transporting Siberian oil to the Pacific.

Analysts see the East Siberia-Pacific Ocean pipeline as a shift in priorities from the dormant European markets to Asia. Picture: Dalnefteprovod 

The giant link flows from west of Lake Baikal some 4,200 kilometres to the port of Kozmino close to the border with China.

'The American market will receive 35 per cent of Kozmino oil,' said Transneft chief Nikolai Tokarev at the opening ceremony.  

'Around 30 per cent will go to Japan and 28 per cent to China'.

Analysts see the East Siberia-Pacific Ocean (ESPO)  pipeline as symbolising a shift in priorities from the dormant European markets to Asia. 

'By completing the second leg, our potential is expanding,' said Putin.  'This is a serious event.'

Experts question whether eastern Siberia currently has sufficient supplies in developed fields to supply Asia and the US using this link.

Some say stocks from western Siberia earmarked for European markets would need to be used if the pipe is to be expanded. 

'We do not owe a single EU country a thing, and we are certainly not obligated to account for ourselves,' said Tokarev.

Comments (1)

go on Sibtimes its been clear long ago Russia is turning its second head to the east. Remember the Royal double-headed eagle?
Marco, Italy
27/12/2012 14:32

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