Transneft finds an investment alternative

Transneft proposes oil companies to finance renewal of oil products pipelines systems due to the introduction of a new investment compound to the oil pumping tariff. At the moment there are primary arrangements with Lukoil, other companies to study the possible expenditures. Even if the oil companies agree, some changes to the law are needed for implementation of the ideas of Transneft. The officials support the monopoly, though FAS reports about appearance of “a nontransparent cross-subsidization system” and some sources at the market connect the new complicated scheme with the will of Transneft to maintain the oil pumping tariffs on the background of the threat of their reduction.

Transneft is trying to arrange the financing of expansion of the oil productspipe lines due to increase of the oil pumping tariff, senior vice-President of Transneft Maksim Grishanin reported. The state company proposes the long-term tariff representing the addition to the oil pumping tariff valid for a concrete sector of the main pipelines. It is set for at least three years and its amount is approved by the Federal Tariff Service (FTS) as advised by Transneft and the interested oil company.