Russian President Vladimir Putin said the oil pipeline from Russia's East Serbia to China's Daqing is one of Russia's largest projects in the development of national economy and its significance can be on a par with the Baikal-Amur Railway, according to China's International Finance News.

Putin said he does not want the construction of the pipeline to be so time-consuming as Baikal-Amur Railway, which lasted several decades. He also thinks that the benefit this pipeline brings will be far more than the Baikal-Amur Railway, which still has not been able to operate in full capacity.

Putin said, after the disintegration of the Soviet Union, Russia lost five major ports in the west, thus had to export petroleum and natural gas via other countries. Therefore, it is of vital importance for Russia to grow less dependent in this regard. He said, oil pipeline to Russia's Far East region to be constructed will enable its oil to directly reach the economically fast-developing Asia and Pacific region, including China, Japan and South Asian countries.

Currently the construction of oil pipeline in the Far East is still in the primary stage, from East Serbia to Daqing, said Putin. Considering worries in the country that the pipeline will severely damage the ecology, Putin said, Russia abandoned the original route and set a new one, which will cost hundreds of millions of US dollars more.

By People's Daily Online