Vladimir Putin, the Russian prime minister, yesterday opened a new pipeline to export east Siberian oil to China that will help Russia reorientate its oil trade towards the east.
The pipeline, running 67km from Skovorodino in east Siberia to China’s north-eastern frontier, is an offshoot of a new oil export route Russia is building to the Pacific Ocean, providing a strategic window on the fast-growing energy markets of Asia.
“This is a vital project for us as we begin to diversify our sales of strategic raw materials,” Mr Putin said. “So far we have delivered most oil to Europe . . . The Asia-Pacific region has received insubstantial volumes.”
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