Rosneft oil deficit for east may reach 16 mln tonnes by 2020
MOSCOW. Sept 20 (Interfax) - There could be a deficit of 15.9 million tonnes of Rosneft oil going east by 2020 taking into account the requirements for the new Eastern Petrochemical Company, Transneft Vice President Alexei Sapsay said at a Natural Resources Ministry meeting on Eastern Siberia.
A large share of the oil going east comes from Rosneft, he said. "The official figures we have now show that the volume of Rosneft production not counting sites at the stage of geological exploration, should be 59.4 million tonnes to provide oil going east to 2020. If we calculate that the oil deficit towards the east without the Eastern Petrochemical Company could be 3.9 million tonnes, then with the Eastern Petrochemical Company it is 15.9 million tonnes," he said.
Commenting on the need to expand the East Siberia-Pacific Ocean oil pipeline system to 91 million tonnes, he said that if the Eastern Petrochemical Company works at a capacity of 12 million tonnes then from 2020 oil pipelines will have to be expanded in East and West Siberia, which may cost around 140 billion rubles. If Eastern Petrochemical Company has capacity of 24 million tonnes, financing will be another 118 billion rubles. As a result expanding transport infrastructure requires 258 billion rubles, but financing sources have not yet been determined, he said.
Sapsay also said that taking into account the launch of the Eastern Petrochemical Company around 33 million tonnes will have to be transferred from West Siberia via East Siberia from 2018 and 43 million tonnes from 2020.
The Eastern Petrochemical Company project envisages construction of a refinery and petrochemicals complex with 30 million tonne capacity at a cost of 1.3 trillion rubles. Rosneft has asked the government for help in the project, including budget funds for the construction of infrastructure for the plant.