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Transneft to up 2018 oil exports via its pipelines

November 21/2017

MOSCOW (MRC) -- Russian pipeline monopoly Transneft will increase oil exports via its pipeline system to 242.4 MMt in 2018, reported Hydrocarbonprocessing with reference to Vice President Sergei Andronov's statement on Monday.

Transneft has previously forecast oil exports via its pipeline network to total 238 MMt this year.

As MRC wrote previously, Russian pipeline monopoly Transneft is buying a stake in the oil terminal at the Baltic Sea port of Ust-Luga from businessman Andrei Bokarev. Transneft-Baltica's request to buy a 25% plus one share stake in terminal was approved by the Federal Antimonopoly service in H2 October 2017. The terminal, launched in 2015, has a capacity of 30 MMt of oil products per year. Bokarev owns 74% and oil trader Gunvor holds the remainder. Transneft confirmed that it was buying the stake in the terminal but did not disclose the seller or price. Gunvor built the terminal and sold a 74 percent stake in the terminal to Bokarev in 2015. Analysts at the time estimated the value of Gunvor's deal with Bokarev at USD1.9 BЦUSD2.2 B at current exchange rates.
Author:Margaret Volkova
Tags:crude and gaz condensate, Transneft, Russia.
Category:General News
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