Mr Putin initiated the loading of the first tanker of the pipeline’s oil bound for Hong Kong and told those gathered at the ceremony “This is a great gift to Russia for the New Year.”

The first stage of the pipeline runs 2,757 km from Taishet, Irskutsk Region, via Yakutia to Skovorodino in the Amur Region. A 1,100 km section of the first stage was brought online in October 2008.

The second stage of the ESO will run 2,100 km from Skovoridino to the Pacific coast. Currently the oil is transported by rail from Skovoridino to the port of Kizmino on the Pacific coast.

It is anticipated that the second stage of the ESO will be brought online in 2014–15.

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Upon completion of the second stage, the ESO Pipeline will traverse 4,857 km.