Transneft on track to meet ESPO deadlines
Transneft is set to complete the first phase of the Eastern Siberia - Pacific Ocean (ESPO) pipeline in December 2009, right on schedule, the oil transportation company's press office reported citing Alexei Sapsai, general director of the project's operator - part of Transneft. By this deadline, an oil loading terminal will be completed in Kozmino. Sapsai also reiterated that Transneft's investment program stood at RUB 217bn (approx. USD 6.02bn) for 2009, including RUB 95bn (approx. USD 2.64bn) to be used to complete the ESPO's first phase. As reported earlier, the first phase with the capacity of 30m tonnes of oil a year is to be finished by December 25, 2009.