MOSCOW, June 7 (RIA Novosti) - Russia's hydrocarbon export growth will slow down in 2007-2010 to less than 1.7% annually, the economics minister said Wednesday.
German Gref told a government session that he expected "a sharp slowing down of hydrocarbon raw materials' export growth rates."
In 2000-2002, hydrocarbon exports grew 10% annually.
The minister said that even commissioning new pipelines in the north and east of the country - the North European Gas Pipeline and the East Siberia-Pacific Ocean pipeline - would not help increase production and export rates.
"We are late with this maneuver," Gref said.
He added that a package of tax measures to stimulate the development of new deposits had been "adopted too late."
Russia exported 252.5 million metric tons (5.1 million bbl/d) of oil and 152 billion cu m of natural gas in 2005.
The North European Gas Pipeline will connect Russia and Germany across the floor of the Baltic Sea, delivering natural gas from Russia to its biggest markets in Western Europe and bypassing transit countries like Ukraine and Poland.
The East Siberia-Pacific Ocean pipeline will supply oil to Asia-Pacific region countries.
