Yukos pushing the China pipeline

Oct 25, 1999 02:00 AM

Russian oil company Yukos plans to prepare a feasibility study for an oil pipeline from Tomsk Region to China by March 2000, Yukos chief Mikhail Khodorkovskiy told. According to preliminary calculations, the project will cost $ 1 bn - $ 3 bn, depending on the route. The pipeline will have a capacity of 2 m-5 mm tpy and will take 2-3 years to construct, he said.
Yukos is currently considering possible partners for the project, in particular China National Petroleum Corporation. Khodorkovskiy noted that if China is not interested in participating in the pipeline project, Yukos will finance the project itself. It is necessary to find new sales markets and the East, particularly China, will allow Yukos to do this.

Source: IINX via Iinoil
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