"Transneft" to postpone capital repairs.

"Transneft" will postpone capital repairs, yet it will build a pipeline to China.

"Transneft", the rate of its tarriffs  which for 2016 have been raised significantly less than the company's expectations, will shift the terms of the pipelines overhaul program. Investments into the expansion of the Eastern Siberia - Pacific Ocean (ESPO), which mainly worried the market, will be left unchanged. According to the source of "the Kommersant" in the government, state-owned company will be waiting for the moment when the political situation allows FAS to ease pressure on prices.

"Transneft" will reduce investment in the framework of the overhaul in the next two years, but in general, it would be carried until 2020, the first vice-president Maxim Grishanin told "the Kommersant". He added that the creation of new facilities, including the expansion of ESPO, would not be postponed. By 2020 "Transneft" is to increase the capacity of the ESPO pipeline from 58 million to 80 million tons a year, "Rosneft" has already signed contracts for the supply of oil to China via the extension.