MOSCOW, April 17 (UPI) -- The chief executive officer of Russia's Biotechnology Corp. said Friday that Europe could be a huge market for the Russian biofuels industry.
Pyotr Kanygin said he believes Russia could sell 40 million tons of biofuels annually to the European market, fuel created from the timber industry's waste products, and deliver it using existing infrastructure, RIA Novosti reported Friday.
"We could transport liquid biofuels, in particular butanol, via already existing pipelines designed, for example, to pump gasoline," he said. "There will be no need to build new transport networks."
Kanygin also said the Russian timber industry could process 36 million tons of waste into 7 million tons of biofuels each year.
The Biotechnology Corp. has proposed measures to update Russia's forestry code to have waste processed into biofuels. The initiative to develop biofuels in the Russia timber industry could create 120,000 jobs in Siberia and the Far East, he said.
He estimated the program would process 2 million tons of motor fuel additives a year, the report said.
