13:21, 21 April 2009 | GMT +5
Russia, China sign oil deal, start new pipeline branch
BEIJING. April 21. KAZINFORM Russia and China signed an intergovernmental agreement on oil cooperation in Beijing on Tuesday, under which a new branch from the East Siberia-Pacific Ocean (ESPO) pipeline will be built toward China, Kazin form refers to RIA Novosti.

The agreement sets out terms for oil cooperation between the countries, in particular on the laying of a pipeline from the Skovorodino refinery in Russia's Far East to Mohe County in China's Heilongjiang province. Under the deal, the pipeline must be completed by the end of next year.
After signing the deal, Russian Deputy Prime Minister Igor Sechin, who chairs the state oil company Rosneft, said the agreement "creates a new foundation for developing our energy cooperation."
"This is a unique agreement of a long-term nature, which is accompanied by financial agreements, and to implement it we have already begun building a branch from the main pipeline toward China," he said, Kazinform cites RIA Nvosti.
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