December 28, 2009
Siberian Oil Flows to China from New Kozmino Terminal
Russian Prime Minister Vladimir Putin helped opened the new Kozmino oil terminal on the icy coastline of Russia's Far East today. The first shipment of crude from new fields in eastern Siberia will sail to a customer in Hong Kong. While the Kozmino terminal and part of the giant East Siberia Pacific Ocean (ESPO) pipeline is complete the final pipeline to the coast and deep inside China are still under construction. When completed (date unknown at this time) almost a fifth of the approximately 80 million tons per year of crude the pipelines carry will flow directly to China. Russian producers claim the crude - called ESPO blend for now - is comparable to middle east oil grades and its price is tentatively based on Dubai blend....
Labels: foreign investment, foreign trade, oil, peak oil, pipeline, russia
# posted by Sinomania! : 12/28/2009 04:27:00 PM
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