Russia to increase oil exports to Asia

Russia, world’s second largest oil producer, today offered to increase crude oil exports to Asia for ensuring energy security and reduce risks for the region.

Currently, Russia exports over 90 per cent of its energy to Europe but was looking closely at Asian and Pacific destinations. We forecast Asia’s share in Russian oil exports to grow from today’s 3 per cent to 30 per cent in 2020, a proportion corresponding to 100 million tonnes. Asia’s share in our gas exports could grow from the current 5 per cent to 25 per cent, which would make 65 billion cubic meters,” Khristenko said.

hindustantimes