Ivanov, Vladimir I

Abstract
Since about 2000, Russia became increasingly interested in a swift expansion of its oil and gas industry to the eastern regions, aiming primarily at the domestic development needs and new markets of Northeast Asia. Eastern Siberia and the Far Eastern areas contain up to 50 percent of Russia’s estimated oil reserves. In this context, the Eastern Siberia–Pacific Ocean oil pipeline is attracting attention as a mega-project important not only for Russia, but also for its neighbors. This pipeline will facilitate the development of new oil fields in the remote eastern areas. There are also plans to build oil refineries connected to the pipeline, including the one planned on the Pacific coast. Indeed, Russia needs an access to the neighboring markets not only in the field of oil, but also natural gas and electricity. In this regard, long-term shared interests should drive new energy projects, and governments could greatly facilitate business interaction. Moreover, specific measures dealing with the long-term energy policies are required at the national, bilateral and regional levels, including practical and project specific initiatives tailored to the needs of the economies of Northeast Asia, considering their large markets, geography, technological potential and an interest in building institutions.
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