Putin creates the Ring of Power in Pacific

Russian President Vladimir Putin has proposed the formation of an intergovernmental working group to elaborate a draft for energy superring which will connect energy systems of the four countries of the Far East region: Russia, Japan, China and South Korea.

"We support the initiative of the Russian companies, Japan, South Korea and China to create energy superring that bind our countries", - President said, speaking at the East Economic Forum.

"For a fast, dynamic implementation of the project offer to form an intergovernmental working group", - he added.

The president said that Russia is ready to provide its partners in the Asia-Pacific region with cheap electricity and to fix it in the long term.

The idea of building an energy bridge between Russia and Japan is discussed since 2000. The project cost is estimated at $ 5.6 billion. It is planned that the supply to Japan will be made with located on Sakhalin Nogliki genset, Sakhalin GRES, Sakhalin GRES-2, Yuzhno-Sakhalinsk CHP. In addition, in addition a number of continental power plants may be used.