The project of Transneft (TransOil) on oil transportation to the Asian markets...
The project of Transneft (TransOil) on oil transportation to the Asian markets is on the stage of feasibility study, Semen Vianshtok, the head of Transneft informed at the Pan-Russian Week of oil and gas.
According to him, the company is much interested in transportation of the Russian oil to the shores of Okhotskoye Sea via ports to Asian-pacific markets. Vainshtok informed that this project will be implemented in two stages. During the first stage, starting from 2005, the annual volume of oil and gas transportation will reach up to 20 million tons. In the future, starting from 2010, this index will increase up to 30 million tons annually.
The Russia-China pipeline, projected by Transneft, will be 2,400 km long. Its construction will start in July of 2003 and will be concluded in late 2005.