23 Oct 2018 17:18

FAS defers examination of Rosneft complaint over Lukoil fees for oil transport at Varandey

MOSCOW. Oct 23 (Interfax) - Russia's Federal Antimonopoly Service (FAS) has moved back examination of a Rosneft complaint over the tariffs Lukoil charges for oil transport through its terminal at Varandey, an FAS spokesman told Interfax.

The examination has been delayed due to a request for additional materials. "The new date has not been determined yet," the FAS spokesman said.

The crude oil Rosneft and Lukoil ship through Varandey comes from the Trebs/Titov field, which is being developed by Bashneft-Polyus, a joint venture between the two companies in Nenets autonomous district.

"We want the regulator to evaluate the appropriateness of the prices for oil loading at Varandey. This assessment would be an objective basis for negotiations," Rosneft said.

Lukoil President Vagit Alekperov said his company had proposed several options for resolving the situation, including a swap of Trebs/Titov oil for crude in Timan-Pechora. "We proposed giving them oil at the Transneft Usa metering junction. Substitute our oil with oil from Trebs/Titov. There were various proposals, for example, having the transshipment price formula take into account the production volume at Trebs/Titov, as is done worldwide, but this also did not suit them," Alekperov said.

Lukoil provided the FAS with documents justifying the price of loading at Varandey. "I hope that the FAS sorts it out and comes to an objective decision," he said.

Production at Trebs/Titov has fallen steeply because project operator Rosneft has drastically reduced investment. "The field has a fairly complex structure, so production depends on the volume of investment. Right now we hope that the operator will revise its approach to development of this field," he said.