Transneft system capacity considerably exceeds export needs, Semion Vainshtok, President of Transneft, told at International Energy Weak in Moscow, IA NGV reports. According to Vainshtok, the company has been recently blamed in capacity deficit while today there is a number of problems related to limitation of export capacity. In particular, to solve export issues at the national level it is necessary to improve oil pipe system through its modernization. The company’s annual investments into system reliability improvement totals $1.5 billion. Besides, it is important to introduce new routes. Vainshtok says the construction of East Siberia – Pacific Ocean (ESPO) line is currently under implementation as well as Khariaga-Indiga line.
Besides, President of Transneft indicated at another factor, which is oil transit via other countries, the tariff policy of which is a kind of risk decreasing attractiveness of export. This problem is to be solved through diversification of supply routs. However, there is a number of problems, which cannot be solved by one country without other states participation. In particular, it is the issue of a route around Turkish straits.