Company news in June 2004 | |||
Transneft and Petroleum Companies to Participate in the Meeting on Crude Oil Supplies Bypassing Bosphorus on June 8
Representatives of Transneft AK and such petroleum companies as Rosneft, LUKOIL, YUKOS, Tatneft, TNK-BP and Surgutneftegaz will participate the inter-institutional meeting on crude oil supplies bypassing Bosporus and Dardanelles straits on June 8, one of the companies told. The meeting is designed for identifying the best crude oil transportation routes bypassing the straits and for coordinating practical steps in this direction, a source in the petroleum company added. Bosporus remains the only transit point for Russian crude oil export from the Black Sea side. Last year, Turkey tightened rules for tankers'' passage across the straight, which, in combination with bad weather conditions in this region, triggered traffic jams and delays in Russian crude oil supply to Europe. The situation is expected to be aggravated after commissioning of the Baku/Ceyhan oil pipeline and increase in Kazakhstani crude oil transit. Several pipeline projects bypassing Bosporus are being drafted – Burgas/Alexandrupolis (with throughput of 35 million tons annually), which is supported by the Foreign Ministry and the Ministry for Economic Development and Trade of the Russian Federation; Odessa/Brody/Gdansk (45 million tons), Burgas/Vlera (40 million tons), and Kyiikei/Ibrikhaba (60 million tons) studied by Transneft.
Source: INTERFAX