Pipeline will move Siberian crude oil to China

Plans for a $1.7 billion crude oil pipeline between Russia and China advanced earlier this year when government officials from the two countries signed an agreement to begin construction in 2003.Russia's No. 2 oil company, Yukos, joined Russian national oil pipeline monopoly Transneft and Chinese oil giant China National United Oil Corp. (Chinaoil) to construct the line that will start up in 2005 and will be able to move 30 million tonnes/year (tpy) of Siberian production by 2010.Signing the agreement in China in late March were Russia's Minister of Fuel and Energy Victor Kalyuzhnyi and China's Minister of the State Planning Development Commission (SPDC) Zeng Peiyan. By first...

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