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News // Oil and gas worldwide

Russia & China Agreed on Eastern Siberia-Pacific Ocean Pipeline

25 March 2009 , 12:37Ksenia KochnevaInterfax1104

Russian Deputy Prime Minister Igor Sechin and Chinese Vice Premier Wang Qishan initialed the agreement last month.

Sechin said at that time that the accord would be ratified by the two countries' parliaments before the end of March.
The branch is due to start supplying China with oil in January 2011.
The accord will now be submitted to the State Duma for ratification, Russian pipeline operator Transneft spokesman Igor Dyomin said. "At least, we can't see any obstacles to ratification," he said.
"It was agreed," Dyomin said in comments on the talks," that the dividing line between the Russian and Chinese pipelines would run not along any pipe juncture or seam but directly along the border between
Russia and China, which means along the middle of the Amur river.

At the same time, oil will be considered Chinese after passing the final Russian oil pumping station."
The agreement's ratification date is to be considered as the date of the start of construction of the branch, the accord prescribes.

The agreement would prescribe that Transneft and Russian oil company Rosneft would be issued with loans of $15 billion and $10 billion respectively.

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