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  • Russia to invest $2 trillion in energy sector, shift focus to Asia

    11/27/2009 7:53:38 AM PST · by thackney · 6 replies · 399+ views
    Calgary Herald ^ | November 27, 2009 | Herald News Services
    Russia plans to invest up to $625 billion over the next two decades to raise oil production by about 10 per cent and a further $590 billion to add at least 33 per cent to its gas output, the Energy Ministry said on Thursday. The oil and gas investment, part of a $2-trillion-plus plan to develop the Russian energy sector by 2030, also envisages Asian markets taking a much larger share of Russia's exports as the country develops resource fields in Siberia and the Far East. "This will allow the Russian energy sector to lower its risk of being dependent...