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On September 10 the Board of Directors of Transneft, JSC, discussed and approved the Company’s Investment Program for 2014 and till 2018

Date of publication: 16 September 2013

On September 10 the Board of Directors of Transneft, JSC, discussed and approved the Company’s Investment Program for 2014 and till 2018, which includes the programs of extension of trunk oil pipelines and trunk oil product pipelines.

The planned amount of the Investment Program for the above years totals 500 bn rubles, where 348 bn rubles are planned for the program of extension of trunk oil pipelines and 152 bn rubles are planned for the program of extension of trunk oil product pipelines.

The total amount of financing under the Investment Program for 2014 will reach 189 bn rubles, where 150 bn rubles will be allocated to the program of extension of the trunk oil pipelines and 39 bn rubles will be allocated to the program of extension of trunk oil product pipelines.

The largest amount of investment will be earmarked for the projects implemented in Siberia and the Far East. In total, there are four investment projects:

Project

Total cost of the project, billion rubles.


Funding from January 01, 2014 until completion of the project, billion rubles.

Zapolyarye – Purpe MN

199

95

Kuyumba – Taishet MN

120

111

Extension of ESPO PS in order to transport up to 30 mln/year of oil to China

74

74

Extension of ESPO PS to transport up to 58 mln/year by Taishet – Skovorodino
pipeline
 

27

10

The other investment projects are mainly connected with organizing oil supplies to NPZ of Russia.

However, it is also taken into account that if the plans in freezing of the annual rate indexation, together with the increasing property tax rate, are put into effect, the programs must be revised and the amount of investment can decrease for the entire period till 2018.

Press Service of Transneft, JSC
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