Cabinet meeting does not approve direct state financing for construction of BPS-2
A proposal about direct state financing for construction of the Baltic Pipeline System-2 (BPS-2) was not approved at Monday's Cabinet meeting, a source familiar with the results of the meeting said. According to the source, the Energy Ministry and Transneft were advised at the meeting to consider attracting investments both from the investment fund and by raising loans. "However, there will be no direct state financing", the source said and explained that overall, the meeting was cooperative. According to the source, at the meeting the Energy Ministry managed to obtain all the approvals for the government's resolution on BPS-2 design and construction. "At present, only technicalities remain and only minor discrepancies need to be removed. I expect the project to be ready as early as mid-October", the source added.