Russia’s Transneft may build 2.5 bln rbl pipeline for sour crude

MOSCOW, Feb 18 (PRIME) -- Russian oil pipeline monopoly Transneft may build a 2.5 billion ruble pipeline for exports of low quality crude through the Baltic port of Ust-Luga, Vice President Sergei Andronov said at a roundtable talk on Wednesday.

“Under preliminary estimates, the cost of this project may stand at about 2.5 billion rubles and the time for the fulfillment of these measures may make up to one year since a relevant decision is made,” he said.

The amount of sour crude in Russian pipelines rose to 81.1 million tonnes in 2014 from 77.5 million tonnes in 2013, and in 2015, this volume will increase, Andronov said.

He also said that Russia hopes to produce a new, high quality oil blend.

(62.8353 rubles – U.S. $1)

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