Russia Increases Oil Exports To Asia

Russia intends to sharply increase exports of oil and natural gas to the Asia-Pacific region over the next 14 years to meet soaring demand there, Russia's Industry and Energy Minister Viktor Khristenko said Wednesday.

He said that Russia is planning to increase sharply in oil and gas exports to the countries of the Asia-Pacific region by the year 2020. He predicted that Asian countries would consume more and more energy in the foreseeable future while Western countries would continue to seek to regulate or cut back on energy consumption.

Khristenko said Russia was also interested in joint development of hydroelectric power and atomic energy in Asia where an appetite for oil and gas is surging.