The half-year long conflict of Rosneft and Transneft is resolved
Edited by Rhod Mackenzie / 2013-10-14 05:35:21
Both companies have claimed that they have reached a mutually acceptable solution to their main problem – the expansion of the ESPO pipeline. “The main principle of the agreements is co-financing”, is noted in the joint statement of the companies.
The agreement is aimed at arrangement of the transportation of additional oil volumes against the contract previously signed between Russian and Chinese governments. Within next 25 years Rosneft will supply China with 365 million tons of oil. The amount of the contract is $270 billion, $60 billion will be provided as the advance payment in the near future.
