Rosneft to pay 5.9 billion rubles to Transneft for supply of 46.8 million tons of oil

The Rosneft’s Board of Directors has approved deals between the oil company and Transneft on cooperation to increase oil supplies to China via the Skovorodino-Mokhe oil pipeline and set a long-term tariff for Transneft’s services on transportation of 46.8 million tons of oil; the total cost will make up 5.97 billion rubles (including VAT), the oil company’s press release reports.

On October 11, Rosneft and Transneft signed a number of agreements, including on the increase of  oil transportation to China via the Skovorodino-Mokhe oil pipeline (a branch from the ESPO) by 15 million tons from 2018. It implies that the oil pipeline’s throughput capacity will make up 20 million tons per year from January 1, 2015 and 30 million tons from January 1, 2018. Thus, the additional volume of pumping in this direction will make up 15 million tons per year in 2018-2037.