Russia unveils oil pipeline to Pacific

by admin
Dec 24, 2012

Russian president Vladimir Putin has unveiled the final part of its pipeline to the Pacific Ocean.

The new pipeline will help Russia expand sales to Asia and is also expected to increase sales to the US.

"The American market will receive 35 per cent of Kozmino oil," Nikolai Tokarev, the head of Transneft state oil pipeline operator, said at the opening.

"Around 30 per cent will go to Japan and 28 per cent to China."

Tokarev did not calm European fears about continued supplies from Russia, as he dismissed offering Europe any assurances about receiving oil.

"We do not owe a single EU country a thing, and we are certainly not obligated to account for ourselves," RIA Novosti quoted Tokarev as saying.

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