CAPITAL: ULAN BATOR
MONETARY UNIT: TUGHRIK
REFINING CAPACITY: NONE
OIL PRODUCTION: 700 B/D
OIL RESERVES: UNKNOWN
GAS RESERVES: UNKNOWN
OAO Gazprom, Russia's natural gas monopoly, said it would export oil products and liquefied natural gas to Mongolia.
Mongolia used 400,000 tonnes of products in 2000. It bought 90% of its products from Russia and 10% from China.
Gazprom's Vostokgazprom subsidiary would ship products from OAO Angarskaya Neftekhimicheskaya Kompaniya, the largest refinery in Russia's Far East, and OAO Achinsk Oil Refinery, a subsidiary of AO Vostochnaya Neftyanaya Companiya, which was majority-owned by AO Yukos Oil Co.
Gazprom also said it might join a project led by OAO Rusia Petroleum, in which BP Amoco PLC owned a 21.3% interest, to export gas from eastern Siberia to China though a pipeline that could cross Mongolia.
AO Yukos Oil Co had started preliminary studies for a $1.7 billion oil pipeline to China.
The pipeline, which would start operations in 2004, would move 10 million tonnes/year initially, rising to 30 million tonnes/year by 2010. Russia and China would each pay $850 million toward construction.
Yukos favored a route through Mongolia. China wanted a direct link with Russia.
