Business

Transneft to spend $11 billion on second ESPO stage

Nikolai Tokarev

15:50 04/05/2010

Transneft will spend some 323 billion rubles ($11 bln) to build the second stage of the East Siberia - Pacific Ocean (ESPO) oil pipeline, the head of the pipeline operator said Tuesday

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Russian, Chinese presidents to take part in completion ceremony of oil pipeline construction
12:28 25/09/2010
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14:06 21/09/2010
The Chinese government has never suggested cutting the price for oil to be supplied via the Eastern Siberia-Pacific Ocean (ESPO) oil pipeline, Russian Deputy Prime Minister Igor Sechin said on Tuesday.
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15:14 29/12/2009
Russian Prime Minister Vladimir Putin said on Tuesday oil producers were lining up to pump their crude through an inaugurated strategic oil pipeline.
Putin says Pacific oil pipeline "strategic project"
07:21 28/12/2009
Russian Prime Minister Vladimir Putin, who officially launched on Monday the East-Siberia - Pacific Ocean (ESPO) oil pipeline, said it was a project of strategic importance for Russia.
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06:31 28/12/2009
Russian Prime Minister Vladimir Putin officially launched on Monday the East-Siberia - Pacific Ocean oil pipeline during his visit to the region.
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15:50 27/12/2009
Russian Prime Minister Vladimir Putin will attend the ceremony of launching the East-Siberia - Pacific Ocean oil pipeline during his visit to the region on December 28-29, the government press office said on Sunday.
Russia to launch ESPO pipeline in last week of December
17:33 18/12/2009
The first tanker with 100,000 metric tons of oil will arrive at a Russian Far East port in the last week of December, symbolizing the launch of a major new pipeline, the pipeline operator said on Friday.
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11:41 18/12/2009
The Asian markets are heavily dependent on imported oil and the role of Russian oil has been growing in recent years. The Eastern Siberian Pacific Ocean pipeline will enable supplies from the Eastern Siberian fields to supply some of the rapidly growing energy needs in Asia.

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ESPO oil pipeline launch

Russian Prime Minister Vladimir Putin officially launched on Monday the East-Siberia - Pacific Ocean oil pipeline during his visit to the region.

The Russian premier also visited the specialized maritime oil-loading port of Kozmino, the final point of the ESPO project, where he gave the start to pumping the first batch of Siberian oil into an oil tanker.

The ESPO project is designed to pump up to 1.6 million barrels (220,000 tons) of crude per day from Siberia to Russia's Far East and then on to China and the Asia-Pacific region