Lukoil and Transneft have agreed on raising the processing volumes at Volgograd oil refinery plant

The President of Lukoil OJSC, V. Alekperov, and the President of Transneft OJSC, N. Tokarev, have signed an agreement on cooperation between the companies.

Aiming for the guaranteed supply of the high quality motor fuel to the domestic market and taking into account the development of the pipeline system, the parties, in particular, agreed on increasing the processing volumes at the Lukoil-Volgogradneftepererabotka oil refinery plant.

In the framework of this project Lukoil will partially finance the expansion of the system of the route pipelines and guarantees the Euro-5 class diesel fuel supply to the system of the route oil products pipelines of Transneft at the volume of not less than 3 mln tons annually within 15 years. On its part Transneft, in the framework of the partial financing, will provide the rise of Lukoil’s oil supply to the Volgograd oil refinery plant and will issue the technical conditions for the connection to the “South” oil products pipeline.