By the end of 2003 Transneft is planning to increase the capacity of the Baltic Pipeline System three fold, Transneft Vice President Sergei Per-Sarkisiants declared at a round-table meeting on Thursday devoted to the development of the pipeline system in Russia. He said that the company wants to enhance the pipeline's capacity by that time to "at least 30 million tonnes per year and later to 50 million tonnes." Deputy Energy Minister Vladimir Stanev admitted that Transneft was finishing preparations for increasing the pipeline system's capacity to 30 million tonnes.
As reported earlier, initially the company planned to enlarge the capacity from 12 million to 18 million tonnes this year. However, at the end of 2002 Transneft's management proposed to increase it to 30 million tonnes in order to meet the demand for oil transportation facilities due to the growth in annual oil production.
News source: www.rosbaltnews.com
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Business news archive for 03 March' 2003.
Business news archive for March' 2003.
Business news archive for 2003 year.