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22

Transneft to Finish ESPO Pipeline in Time

Transneft is set to complete the first phase of the Eastern Siberia - Pacific Ocean pipeline in December 2009, right on schedule

The news was reported by the company's press office that quoted Alexei Sapsai, general director of the project's operator - part of Transneft.

By this deadline, an oil loading terminal will be completed in Kozmino.

Sapsai also reiterated that Transneft's investment program stood at $6.02 bln. for 2009, including $2.64 bln. to be used to complete the ESPO's first phase.

As reported earlier, the first phase with the capacity of 30m tonnes of oil a year is to be finished by December 25, 2009.

Author: Ksenia Kochneva