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Investment into Asian Energy Ring project estimated at $30 bln — Ministry

April 19, 0:39 UTC+3 MOSCOW

Annual revenues of investing companies may range from $3 bln to $7 bln

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MOSCOW, April 18. /TASS/. Investments into the project of developing the Russian segment of Russia - Japan - Korea - China Asian Energy Ring are tentatively estimated in the amount up to $30 bln, press service of the Russian Far East Development Ministry said on Tuesday citing First Deputy Minister Alexander Osipov.

"Investments into development of the Russian portion of Russia - Japan - Korea - China Asian Energy Ring are provisionally estimated as totaling up to $30 bln. Annual revenues of investing companies may range from $3 bln to $7 bln," the press service said.

Russia as a participant in this initiative has a range of indisputable advantages, Osipov said. In particular, the Far East has nearly all energy resources. The territorial location makes possible to deliver electric power to almost all major energy consumption centers by overhead power lines or subsea cables.

"Developments and justifications made by the Russian Far East Development Ministry, the Russian Ministry of Energy and power companies confirm the possibility of creating up to 10 GW of generating facilities at the first stage. This electric power can be transmitted to Japan, China, the Republic of Korea and other countries. Major consumption centers can be provided with electricity with a significant reduction in its price," Osipov said.

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