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Russia to build oil pipeline to China

www.chinanews.cn 2005-02-02 15:12:49

Chinanews, Feb.2 - The mist surrounding the secretive visit of Russia's
Minister for Industry and Energy, Viktor Khristenko, to China in January
has finally been cleared. The reason for Mr. Khristenko's visit, acting
as envoy of the Russian government, is to promise the Chinese government
that Russia would build an offshoot of its Siberian oil pipeline to
China, following Russia's earlier announcement that the Siberian pipeline
would not target China's Daqing as its destination.
During a weekend in the middle of last month, Victor Khristenko led the
Russian Petroleum Company to make a low-key visit to China. The content
of this secret visit had remained undisclosed. However, Mr. Khristenko
recently revealed the underlying reasons for his visit at a press
conference that was held after his return to Russia. When asked if any
consensus was reached between the Russian and Chinese sides, Mr.
Khristenko said, "the President and Premier's decisions will be carried
out. Oil will flow toward China."
What deserves special attention here is the phrase "flow toward" that was
used by Mr. Khristenko, which indicates that Russia will transport oil to
China by pipelines instead of rail. Generally speaking, it is much more
efficient and safer to transport oil by pipelines than by rail.
Russia's prior focus was to use railways to transport oil, but in
reality, this method was unable to meet the surging domestic demand for
petroleum in China. Russian state-owned Rosneft Petroleum Company
revealed on January 31st that they would be taking the place of domestic
private oil giant Yukos that had been monopolizing oil shipments to China
and would be sending 50,000 tons of oil to China by rail for the first
time.
It is believed by some people that the Russian minister visited China
secretly this time with the direct objective of reassuring China after
its disappointment with the Putin government over the Siberian oil
pipeline issues.

          ��CNPC to spend 6b USD on Russian crude oil (2005-01-31)
          ��Sinopec enters the U.S. oil market (2005-01-25)
          ��China crude oil shortage to be over 3m barrels a day in 2008
(2005-01-19)
          ��China imported 120 million tons of crude oil last year
(2005-01-13)
          ��Sinopec adjusted oil prices again (2005-01-04)
          ��Large oil reserves found in Bohai bay (2004-12-24)

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