Transneft hiking tariffs substantially for long-term storage of petroleum products as of 2025
MOSCOW. Dec 11 (Interfax) - Transneft is substantially hiking tariffs for long-term storage of petroleum products as of January 1, 2025, the Russian oil pipeline operator posted on its website.
Transneft said that the tariff for storing one tonne of petroleum products from the 31st to the 40th day would be set at five times the tariff in effect during the first 30 days, and the tariff from the 41st day would be set at ten times the tariff in effect during the first 30 days.
The current contract form for storing and loading petroleum products contains a single value for the cost of services regardless of the timeframe.
As reported, following a meeting with Deputy Prime Minister Alexander Novak at the end of July, the Energy Ministry jointly with Transneft and interested oil companies were instructed to take measures to ensure the smooth and uninterrupted removal of diesel fuel from oil depots technologically connected to Transneft's pipeline system.
An Interfax source in the fuel market believes that buyers will feel the tariff hike. "Many of them require a two-month fuel reserve to operate efficiently, and a five-fold tariff increase from 31 days and a ten-fold increase from 41 days is of course a prohibitive tariff. This renders storing petroleum products in the pipeline unprofitable together with the high interest rate. If participants do not maintain fuel reserves and operate 'on the fly', then this could be a significant risk for the market. Any disruptions in shipments and logistics could result in price jumps," the source said.
Transneft, on the heels of Russian Railways, to whose service costs Transneft's tariffs to pump petroleum products are tied, has hiked the corresponding rates by 13.8% as of December 6. Moreover, Transneft, for which the profit tax will jump immediately to 40% from 20% next year rather than to 25% as for everyone else, has requested that the government index tariffs for its oil pumping services by hiking tariffs by 8.7% as of January rather than by 5.8%. The matter is currently under discussion.