Russia sets grand plan for oil exports, benchmarking

摘要

Paris—Russia’s investment in new oil transportation infrastructure is part of a grand plan that owes much more to long-term profit maximization than it does to short-term economics. This is evident from state oil pipeline company Transneft investing billions of dollars in significantly more oil export capacity than it expects to see growth in crude oil output. The country’s major new projects, the Baltic Pipeline System-2 (BPS-2 or BTS-2 under its Russian acronym) and the East Siberia-Pacific Ocean pipeline, both have capacity of 600,000 b/d, while Phase 2 of ESPO, which should be complete ahead of schedule in November, will raise capacity on the eastern pipeline to 1 million b/d.