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. Last Updated: 07/27/2016

Oil Pipeline Completed

Russia completed its largest infrastructure project since Soviet times, expanding its eastern oil pipeline to the Pacific Ocean as it seeks to carve out a bigger share of the Asian market.

It took six years and more than $25 billion for Transneft to build the East Siberia-Pacific Ocean link to the port of Kozmino, which had formally relied on a rail link.

By completing the 4,200-kilometer line, Russia has created powerful leverage for oil-flow switches from east to west and vice versa, sending a warning to the European Union, which is heavily dependent on energy supplies from Russia. 

(Reuters)

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