Russia to increase energy exports to Asia-PacificSeptember 4th, 2012 - 10:34 am ICT by IANS
Moscow , Sep 4 (IANS/RIA Novosti) Russia would increase exports of oil and natural gas to the Asia-Pacific to counterbalance instability in supplies from the Middle East, according to an APEC expert.
The proposed increase was expected to account for between 22 and 25 percent of Russia’s total exports by 2020, Russian APEC Study Centre deputy director Gleb Ivashentsov said at the ongoing 2012 Asia-Pacific Economic Cooperation forum.
Russia is ready to participate in the development of the Asian energy sector, including joint projects to build nuclear power plants, he said.
The country’s contribution towards energy supplies in Asia Pacific would reduce the region’s reliance on hydrocarbon imports from the unstable Middle East, he added.
Ivashentsov, however, said the problem with increased Russian exports of oil and gas to the Asia-Pacific market was that existing pipelines would carry supplies only to China and South Korea while the rest of Russian natural gas had to be transported by sea in the form of LNG.
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Tags: apec, apec study centre, asia pacific economic cooperation, asia pacific market, asian energy, deputy director, economic cooperation forum, energy exports, energy sector, energy supplies, gleb, hydrocarbon, nuclear power plants, oil and gas, pacific economic cooperation, pipelines, ria novosti russia, russian exports, russian natural gas, south korea