Lukoil, Conoco To Construct New Pipeline

Russian oil giant Lukoil plans to build an oil pipeline linking Western Siberia to the nothern Russia's Murmansk region, the vice president Leonid Fedun told journalists at a press conference in Moscow today.

He called this plan ?a strategically important route?, since it will give an access to new hydrocarbon markets for Russia. Fedun also expressed hope that the company's new strategic investor, US firm ConocoPhillips, will back the project.