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DJ -Russia has invited Norway’s Oil Minister Einar Steensnaes to Moscow to discuss a border dispute in the Barents Sea, new investment in oil and gas and cooperation in the European gas market, a spokesman at the Norwegian Ministry said Friday. The meeting is scheduled to take place by the end of this month or the beginning of December, the spokesman told Dow Jones Newswires. A planned meeting in Oslo Thursday between Russian Energy Minister Igor Yusufov and Steensnaes was postponed when Yusufov had to return to Moscow. Steensnaes will travel with a delegation from the ministry. Norway and Russia have common oil and gas interests in the mostly unexplored Arctic Barents Sea as well as the Caspian Sea. Russia is the world’s second biggest oil producer after Saudi Arabia. Russia’s Yukos aims in 2005 to be supplying 23 million tonnes of oil to China, a quarter of the country’s crude imports.

Most of the oil will be piped along the Angarsk-Datsin pipeline, Sergei Prisazhnyuk, Yukos representative in China, told reporters. The pipeline, which will be 2,260 km long, is due to be launched in 2005. In its first five years, the pipeline will be able to carry up to 20 million tonnes, rising to 30 million tonnes from 2010. It will link Russia’s trunk pipeline network with the Chinese National Petroleum Company’s refineries and pipelines. Lian Jianjia, CNPC’s deputy general director, said the pipeline was a major government-to-government project. Yukos and CNPC have held two rounds of talks on a 25-year oil supply contract, by which China would pledge to consume as a much oil as the pipeline is projected to carry and Yukos would be obliged to supply half of the crude. The last round of talks is due to take place in Moscow on November 18.

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