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Home >> World
UPDATED: 10:03, November 26, 2005
Russia keen to dabble in Iran-Pakistan-India pipeline project
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Russia is interested in dabbling in the estimated 7-billion-US dollar Iran-Pakistan-India gas pipeline project, Russian Minister of Industry and Energy V. Kristenko said Friday.

"It is a commercially viable project. It is a pipeline of peace and will help to remove political risk," said Kristenko at the second Asian energy roundtable held here with the participation of central and north Asian countries and major Asian oil and gas consumers.

India and Pakistan could introduce Russian experts since they are experienced in building transnational pipelines including undersea pipelines, he said.

Kristenko also invited Indian companies to participate in the public offering of the state-owned oil firm, Roseneft, next year.

"We would like Indian companies to partner to acquire assets in Russia through the IPO in Roseneft," he said.

Indian state oil giant -- the Oil and Natural Gas Corporation has held 20 percent stake of Sakahlin-I project in Russia.

Russia preferred using its eastern Siberian pipeline project to bring oil of Sakahlin-I to India, he said, but adding that India is not a feasible destination of directly shipping gas from Sakahlin-I.

Russia has already talked with Japan over supply of Sakhalin gas and China is also interested in the project.

"We plan to export 100 million tons of crude per year by 2020 and 65 billion cubic meters of gas annually to countries in Asia and the Pacific. In the case of crude it would be a 10-fold increase and for gas even more," Kristenko said.

Source: Xinhua

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