Novak: oil supplies to Asian-Pacific region to grow to 30% of export volume in the next 5 years

The deliveries of Russian oil to countries of the Asia-Pacific region will increase to 30% of the total volume of oil exports in the next 5 years, said the Russian Energy Minister Alexander Novak said at the Eastern Economic Forum. "The main increase in the supply in the structure of exports of liquid hydrocarbons is expected in the eastern direction. It is expected that in the next 5 years, the supply of oil from Russia to the Asia-Pacific region can grow to the level of 28-30% of the total Russian oil export," – he said. The Minister stressed that the further development of the Russian oil supplies in this direction will depend on the prospects of the increase in the demand and the construction of appropriate transport infrastructure.