Russia’s Transneft to invest 460-480 bln rbl by 2020 -- CEO

MOSCOW, Jan 13 (PRIME) -- Russian pipeline monopoly Transneft will invest 460-480 billion rubles until 2020, CEO Nikolai Tokarev said Monday.

“On the whole, we must spend 460-480 billion rubles on the construction of new facilities,” he said. “As regards the investment program, 360 billion rubles will be spent on oil pipelines and 180 billion rubles on oil product pipelines.”

Exports through Transneft’s pipelines will fall to 225 million tonnes in 2014 from 228.5 million tonnes in 2013, while local supplies will stand at 250.5 million tonnes, flat on the year, Tokarev said.

(33.2062 rubles – U.S. $1)

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