Japan and Russia will hold ministerial talks Thursday on a project to build an oil pipeline linking Taishet in eastern Siberia to Perevoznaya near Nakhodka in the Russian Far East to ship oil to Japan and other markets, the Ministry of Economy, Trade and Industry (METI) said Tuesday.

METI minister Shoichi Nakagawa will meet with Russian Industry and Energy Minister Viktor Khristenko to discuss the pipeline plan ahead of a Japan-Russia intergovernmental trade and economic meeting Friday, the METI said.

On Monday, experts from the two countries met in Moscow to discuss the project and agreed to strive to build the pipeline without fail, according to the METI.

Russia announced last December that it will build a 4,180- kilometer oil pipeline on a Japanese-proposed Pacific route, the METI said, adding that Moscow is expected to formally decide on details of the construction project after May.

Japan has offered financial assistance for the project, which would make Japan the nearest overseas market for the Siberian oil.

Source: Xinhua