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48

Russia terminates a 20-year cooperation agreement with Ukraine on the use of oil product pipelines

The decree was published on the Russian Cabinet saying that Russia had terminated a 20-year cooperation agreement with Ukraine on the use of oil product pipelines.

Russia terminates a 20-year cooperation agreement with Ukraine on the use of oil product pipelines Russia terminates a 20-year cooperation agreement with Ukraine on the use of oil product pipelines


The decree was published on October 12, 2016, on the Russian Cabinet saying that Russia had terminated a 20-year cooperation agreement with Ukraine on the use of oil product pipelines.

 

It noted that the agreement signed in 1995 envisaged that the oil product pipelines Samara-Western direction and Grozny-Armavir-Trudovaya passing through Ukraine’s territory is operated by the subsidiaries of Transnefteproduct, 100% of the company’s ordinary shares are part of Transneft’s equity capital.

 

«In February 2016, the sections running through Ukraine’s territory were sold by Transneft to Swiss company International Trading Partners AG. The deal was approved by Russia’s Federal Antimonopoly Service on October 16, 2015, and by Ukraine’s Antimonopoly Committee on December 22, 2015. In view of this, the Russian side’s involvement in the Agreement is inexpedient,» an explanatory note to the document said.

 

«This is absolutely a technical point. The current supply of petroleum products is not affected,» Transneft spokesman Igor Demin told RIA Novosti.

 

To read this news in Russian.

Source : Neftegaz.RU