The second stage of the Eastern Siberia - Pacific Ocean (ESPO) oil pipeline project may be completed in 2012-2013, Russian Industry and Energy Minister Viktor Khristenko said during a meeting with Japan's Foreign Affairs Minister Taro Aso, RBC reports. Khristenko pointed out that a formal decision on the launch of the second stage had not been made yet, but added that it could be completed by 2012-2013. However, the ministry's press office reported that it was Khristenko's personal projection.
The minister expressed hope that the first stretch of the pipeline would be constructed by 2008, as all the works were being done in line with the schedule. Khristenko also told the Japanese minister that Russia had approved a program of auctions at oil deposits in Eastern Siberia and added that Russia was interested in foreign investments.