• 2009 February 11 13:37

  Transneft approves long-term investment program

  

  Transneft's board of directors has approved at the meeting on Tuesday the company's investment program until 2020, the press office of the Russian pipeline giant reported today according to RBC. No further details regarding the program's size have been revealed. However, earlier, Transneft's President Nikolai Tokarev announced that the company had developed an investment program until 2020 worth RUB 713bn (approx. USD 19.84bn).

  According to the company's statement, the program centers on investments in new projects and boosting oil pipelines' capacity. As part of the program, Transneft intends to complete the first stage of the Eastern Siberia- Pacific Ocean (ESPO) pipeline construction in December 2009 and the second stage in December 2013. The company is also poised to finalize works on the first stage of the Baltic Pipeline System (BTS-2) in September 2012.

  As reported earlier, Transneft's investment program for 2009 has been approved at RUB 217bn (approx. USD 6.04bn).

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2024 November 15

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