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22

Russia Wants to Increase Oil&Gas Exports to Asia-Pacific

Khristenko predicted that Asian countries would consume more and more energy in the foreseeable future

Russia intends to sharply increase exports of oil and natural gas to the Asia-Pacific region over the next 14 years to meet soaring demand there, the government daily Rossiikaya Gazeta quoted Industry and Energy Minister, Viktor Khristenko, as saying.

Khristenko predicted that Asian countries would consume more and more energy in the foreseeable future while Western countries would continue to seek to regulate or cut back on energy consumption.

Aimed at long-term supply to Asian consumers, developments are under way with huge oil and gas deposits on the Sakhalin shelf andnear the Kamchatka peninsula, along with new petroleum resources in eastern Siberia, according to the official.

Khristenko said Russia was also interested in joint development of hydroelectric power and atomic energy in Asia where an appetitefor oil and gas is surging.