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Transneft charged with Siberia-Pacific pipeline construction

      RBC, 07.09.2006, Moscow 16:52:25.The Russian government authorized Transneft to finance, design and build the Eastern Siberia - Pacific Pipeline with a total annual capacity of up to 80m tonnes of oil. Construction will require two stages. The Taishet (Irkutsk region) - Skovorodino (Amur region) stretch with a capacity of 30m tonnes a year and an oil loading terminal on the Pacific Ocean are to be built by the second half of 2008. By 2015, an oil pipeline from Skovorodino to the oil terminal will be built and the aggregate capacity will be raised to 80m tonnes a year. Construction works started on April 28, 2006.

      According to Transneft estimates made before it was decided to move the pipeline away from Lake Baikal, the total cost of the project was around $11.5bn, with the first stage priced at $6.6bn. However, after the feasibility study for the second stage is completed, the total cost will be upwardly adjusted.

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