Russian approves disputed oil pipeline along Lake Baikal

Russia’s environmental watchdog said on Monday it had approved a controversial pipeline that will take oil to Asian markets, but that green groups say could severely damage the world’s deepest lake, Lake Baikal.

The Eastern Siberia-Pacific Ocean pipeline has the full backing of President Vladimir Putin and would allow the world’s No. 2 oil exporter to diversify its massive shipments away from Europe’s slow-growing markets.

..”He declared that it was a priority project for Russia’s social and economic development, adding that the environmental investigation should not hinder the country’s economic growth,” said Deutsche-UFG investment bank in a note.

Environmental groups admitted the state machinery would be against them, and said they would try to organise protests in defence of the lake, which is the world’s deepest, contains 20 percent of the earth’s unfrozen fresh water and is a UNESCO world heritage site.

China Daily