Tag Archives: Asia

Russian Oil Pipeline to Asia: Reports

There are a two interesting analytical reports on the opening of the East Siberia-Pacific Ocean (ESPO) oil pipeline that links Russian oil to Asian markets.

Euractiv has published an analysis by Wojciech Konończuk by Centre for Eastern Studies on the issue. Konończuk says that during the first few years ESPO will not operate at full capacity, and will have only a limited impact on the Russian oil sector. The author says that the ESPO pipeline is expected not only to stimulate the development of a new oil extraction centre in Russia and promote economic development in the Far East, but also to strengthen Russia’s position on the global raw materials market.

Platts has a technical report on the ESPO pipeline. The report says that the start of the ESPO crude exports will be a major step for Russia’s oil export infrastructure, which is currently heavily focused on moving oil west toward Europe. The report also says that ESPO can become a major price indicator of spot oil volumes in Asia.

Japan: Towards an Asian Community?

The Democratic Party of Japan (DPJ) seized 308 seats in Sunday’s Lower House election, bouncing the Liberal Democratic Party from power.

But why is this important from an EU legal perspective?

Well, because of this article by Yukio Hatoyama, leader of DPJ and future prime-minister. There, he says:

“(W)e should nonetheless aspire to move toward regional currency integration (…)Establishing a common Asian currency will likely take more than 10 years. For such a single currency to bring about political integration will surely take longer still. (…)

(T)he issues that stand in the way of regional integration can only be truly resolved by moving toward greater integration. The experience of the E.U. shows us how regional integration can defuse territorial disputes.”

This is an old European dream: to let our experience benefit other political communities. So is this a shift in Asian regionalism?