Transneft divides another's super-profits, it asks the Government to take income from oil companies

Transneft insists on the impossibility of its ability to finance the extension of the Eastern Siberia-Pacific Ocean oil pipeline if its tariffs are frozen. This extension is necessary to implement the plans of Rosneft and Gazpromneft on the increase of export to countries of the Asia-Pacific region. Transneft considers the rates “super-premium” and asks the Government to force the oil companies to share their  income with the monopoly and budget.

Transneft, which was – as with all state-owned monopolies – pinned down to fact of a tariffs freeze, still expects that an exception will be made for it. The company’s Head Nikolay Tokarev has applied to the Vice Prime Minister Arkady Dvorkovich with a request to consider the possibility to increase the tariff for the export of oil pumped through the Eastern Siberia-Pacific ocean system (ESPO). The monopoly asks to set an investment premium in the amount of 16.6% an export tariff for oil, supplied to the port of Kozmino and China (336.2 rubles or $10.2 per ton) with annual indexation in the amount of not higher than the inflation rate. According to Transneft, this will allow to extend ESPO to 80 million tons from the current 37 million tons that is necessary for oil companies themselves.