Moscow—Russian pipeline monopoly Transneft has begun work on expanding the capacity of the second stage of the East Siberia- Pacific Ocean export pipeline to the port of Kozmino on the Pacific coast, the company said Wednesday. The plans to expand the route by more than 60% are going ahead despite the difficult macro-economic situation and low oil prices because competition for access to the only eastbound export pipeline among domestic oil producers is growing, with demand for crude transportation to Asian markets exceeding capacity significantly. After completion by 2020, the line is expected to be pumping 50 million mt/year (or 1 million b/d) of crude.
展开▼
