Russia favours Iran-Pak-India pipeline

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April 25, 2006 14:50 IST

Russia has supported the proposed Iran-Pakistan-India gas pipeline project, saying it would help ease risks to global energy security.

"Major projects lead to a variety of reactions in the beginning, but once they are launched the reactions become positive. Infrastructure is a key part of energy security," Viktor Khristenko, Russia's Minister for Industry and Energy said in Doha.

"We welcome opportunities to go across our own borders and see it as growing possibilities for our companies. It is an opportunity to decrease risk to global energy security," he was quoted as saying in Peninsula newspaper.

Russia is moving out of its energy insularity and now open to welcoming foreign partners.  In 2005 Russia produced 417 million tonnes of oil, an increase of 2.4 per cent over the preceding year.

Expected production for the current year will be 480-485 million tonnes, a two per cent increase over 2005.  "That is hardly worse than average but we are not satisfied with that," he said.

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