Pyongyang, August 26 (KCNA) -- The Far East Region of Russia is abundant in underground, forest and marine resources.

Oil and natural gas developed in Sakhalin Region, Khabarovsk Territory and Maritime Territory are main sources for the economic development of the Far East Region.

The first liquefied gas plant of Russia based on the hi-tech has been built in Yuzhno-Sakhalinsk City. Its annual output is about 10 million tons. It has been reported that if the plant keeps production in full capacity, it can provide five percent of the global liquefied gas supply amount.

The terminus of Eastern Siberia-Pacific oil pipeline was extended to Nakhodka City, laying a base for export of oil in the Far East Region by tankers.

A due attention is being paid to development of the fisheries and the fish processing industry in the region.

The Maritime Territory accounts for 15 percent of Russia's aquatic output, and Vladivostok and Nakhodka cities are leading centers of the fisheries and the fish processing industry.

An urban modernization drive has been stepped up in the Far East Region.

In particular, a campaign is taking place to renew Vladivostok City where the APEC summit will be held in 2012.

Russian Prime Minister Vladimir Putin said at a meeting that Vladivostok City would become an economic, cultural, scientific and educational center of the Far East Region and one of the recognized major cities of the country.