The proposed 2,400km Sino-Russian pipeline that will bring Siberian crude oil to China is expected to be operational by 2005, Xinhua reported. The oil will be used mainly in refineries in the oil-producing Daqing region of northeast China. China National Petroleum (PetroChina) plans to invest US$700m while the Russian financial commitment is expected to reach US$1bn.
A feasibility study for the project should be completed this summer. However, it is expected to take at least 10 months for both governments to approve the project before construction can begin.