MOSCOW, April 17 (RIA Novosti) - Europe may become a strategic market for biofuels for Russia, with an expected total volume of about 40 million tons annually, the CEO of the Biotechnology Corporation said Friday.

Pyotr Kanygin said that after Russian timber has been processed, up to 36 million tons of waste could be used to produce about 7 million tons of biofuels.

"We could transport liquid biofuels, in particular, butanol, via already existing pipelines designed, for example, to pump gasoline, and there will be no need to build new transport networks," he said.

Kanygin said biofuels are a promising project for Europe. "Should the state provide the required support, the project will be given an impetus, and this will give a push to the branch development," he said, adding that Russia will be able to meet European biofuel demand.

Kanygin also said the Biotechnology Corporation has proposed amending Russia's Forestry Code to ensure timber processing companies dispose of and process timber waste.

He said the program to develop biotechnology includes establishing 30 biotechnological companies and creating 120,000 jobs in Siberia and the Far East, as well as production of 2 million tons of motor fuel additives annually.