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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (36017)	3/22/2004 5:21:46 AM
From: LindyBill	of 793896

This reminds me of the start of Clancy's book, "The Bear and the Dragon." In it, the Chinese plan to take the Russian oil fields. Russia and Japan agree pipeline BBC News Moscow and Tokyo are to build a giant oil pipeline between eastern Siberia and Russia's Pacific coast, Reuters has reported. The pipeline - expected to cost between $5bn-8bn - will both enable Japan to reduce its reliance upon Middle East supplies, and boost Russian exports. It will run to Russia's Pacific port of Nakhodka, near Vladivostok. The Japanese-backed route has been chosen ahead of a rival plan that was put forward by the Chinese. But Reuters said a branch pipeline would be built to China's largest oilfield in Daqing. Strategic interests "The final destination is fixed," the Japanese official told Reuters. The Japanese-supported route - which starts from Taishet - is being led on the Russian side by pipeline monopoly Transneft. The Chinese alternative - which would have included a main pipeline between Russia and China - had been considered the favourite last year, when Moscow and Beijing signed a declaration that they would increase cooperation in the oil and gas sectors. However, last month Moscow said this plan had been ruled out for environmental reasons. Resource-poor Japan has been keen to come to its own agreement with Russia as a means to reduce its over-reliance upon oil supplies from the politically unstable Middle East - in 2003 it bought 87.1% of its crude oil requirements from the region. Western investment For Russia it should lead to the further development of its Siberian oil fields and increased exports, most notably to the US west coast. The Japanese official added that both Japan and Russia would like to see European and US oil firms get involved in the pipeline's development. Story from BBC NEWS: news.bbc.co.uk

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