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Putin Hails Importance Of Oil Pipeline To China

Russian Prime Minister Vladimir Putin
Russian Prime Minister Vladimir Putin has formally opened a pipeline branch to carry Siberian oil to China.

Speaking in the east Siberian town of Skovorodino, Putin said the pipeline is an important project for Russia because it helps diversify its sales of energy resources.

At present most Russian energy exports go to Europe.

Putin said that when deliveries through the pipe begin by the end of the year, Russia will pump at a rate of 30 million tons per annum.

Further expansion will bring deliveries to 50 million tons, he said. The oil will flow to the Chinese town of Daqing.