Russia's gas and oil -rich Yamalo-Nenets Autonomous Area in northern Siberia is interested in implementing joint energy projects with China, the regional governor said on Sunday.
The region, which accounts for more than 90% of Russia's natural gas output and 12% of oil production, is presenting its potential at the World Expo 2010 Exhibition in Shanghai.
"We are ready to offer our Chinese partners mutually advantageous and constructive cooperation in such spheres as hydrocarbons and solid mineral resources, the Northern Sea Route, agriculture, innovations and science," Dmitry Kobylkin said at the region's presentation.
Kobylkin said foreign investment in the region topped $1 billion last year.
"We are simply presenting Yamal as an investment target... We are ready to act as intermediaries between an investor country and the oil and gas sector and create a good investment climate," Kobylkin said.
The potential of natural gas production at explored fields alone on Yamal Peninsula is estimated at 360 billion cubic meters a year for many years to come, with the peninsula's reserves estimated at over 50 trillion cubic meters.
SHANGHAI, May 2 (RIA Novosti)
