Transneft Opens Second Phase of ESPO Oil Pipe to Pacific Coast
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OAO Transneft, Russia’s oil pipeline operator, opened the extension of a link across eastern Siberia that will allow it to double crude exports to Asian and Pacific markets.
The 327 billion-ruble ($10.6 billion) second phase of the the East Siberia-Pacific Ocean link was officially opened today at a ceremony attended by Transneft President Nikolay Tokarev in Khabarovsk, according to the Kremlin’s website. The pipeline, starting at fields in east Siberia, was extended to the port of Kozmino from Skovorodino near the Chinese border and boosts the port’s capacity to 600,000 barrels of crude a day.