Vladimir Dmitriyev said Vnesheconombank, which handles the government's foreign debt, has been in talks for some time with state pipeline monopoly Transneft over the East Siberia-Pacific Ocean (ESPO) pipeline, an ambitious project to channel Russian energy resources to Asian markets.
"I can say that [Transneft's] standpoint on the issue is clear and well balanced," Vladimir Dmitriyev said. "The bank that propose best conditions will participate in the project."
The pipeline - estimated to cost $11.5 billion - is slated to pump up to 80 million metric tons a year (1.6 mln bbl/d) from Siberia to Russia's Far East, before being sent on to the Asia-Pacific region, and in particular energy-hungry China. The first stage of construction, which started in April, was initially expected to be completed by the end of 2008.
Dmitriyev said the capital-intensive project was very important to Russia as a whole, since it includes construction not of "tubes alone," but of broader infrastructure.
