Rosneft and Transneft agree on extension of a bend from ESPO to China

On Friday, the Rosneft’s Head Igor Sechin and the Transneft’s President Nikolay Tokarev signed agreements, aimed at implementation of strategic plans on extension of oil transportation to China. According to unofficial data, Transneft will undertake the majority of expenses on extension of the transport infrastructure to increase the export of Russian oil to China.

As the Rosneft’s information policy department reported on Friday, the package of cooperation agreements for increase of oil supplies to China fixes obligations of the parties on financing and implementation of events, aimed at the extension of the throughput capacity of the Skovorodino-Mokhe oil pipeline (this is the ESPO’s bend to China) and on appropriate increase of crude oil transportation in this direction.