Rosneft, Transneft sign 49.5 bln rbl ESPO–Komsomolsk deal

MOSCOW, Jun 4 (PRIME) -- Oil major Rosneft and oil pipeline monopoly Transneft have signed a 49.5 billion ruble agreement on a 14.5-year tariff for transportation of up to 8 million tonnes of oil per year via the East Siberia–Pacific Ocean (ESPO) pipeline to the Komsomolsk oil refinery, Transneft said in a statement on Tuesday.

“The deal sets a long-term tariff on Transneft’s oil transportation services via the ESPO pipeline branch–Komsomolsk oil refinery, in the volume of up to 8 million tonnes per year for a total sum of no more than 49.5 billion rubles (without value-added tax),” the statement read.

Transneft built the 293-kilometer pipeline branch to the Komsomolsk refinery with a capacity of 8 million tonnes of oil annually but pumping has not started.

In late 2018, Transneft CEO Nikolai Tokarev said that Transneft could sue Rosneft for 1.5 billion rubles for the dead time of the pipeline between May 2018 and December 6. In 2019, he said that Transneft would postpone the suit until after the launch.

(65.5547 rubles – U.S. $1)

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