Putin launches new oil route to Asia

Prime Minister Vladimir Putin launched Russias long-awaited Siberian oil export route Monday,giving energy-hungry Asia a new supply source from the world8217;s largest crude exporter seeking to diversify its client base away from Europe. Putin,clad in a heavy winter parka,pushed a button that initiated the first filling of an oil tanker bound for Hong Kong at a new oil terminal near the Russian Pacific port of Nakhodka,the projected terminus of the new Siberian oil pipeline. For Russia this is truly a serious event, Putin said during the terminal inauguration ceremony at the port of Kozmino near Nakhodka,in comments broadcast on state television.

This is a strategic project because it allows us to enter completely new,growing,promising markets of the Asian Pacific region, Putin said.