by Natalya Skorlygina
Omskneftekhimproekt prepared for Rosneft a declaration with preliminary characteristics for building an oil refinery at the terminal point of the East Siberia-Pacific Pipeline. Three sites are considered for the refinery. Regardless of Rosneft’s choice, the investment into the project is estimated at about $6 billion. However, the state company has not yet been officially commissioned with carrying the project out.
Omskneftekhimproekt handed over to Rosneft on January 15 the declaration of intentions concerning building an oil refinery at the terminal point of the East Siberia-Pacific Pipeline (VSTO). The project is to build a factory with the capacity of 20 million metric tons.
However, the project is not confined to just one factory. A new terminal will be built for the new refinery. Experts say the terminal’s cost depends on various factors, including the choice of berthing structure, and thus estimate it between $160 million and $420 million.
Transneft head Semen Vainshtok was the first to speak of building the oil refinery at the VSTO’s terminal, back in November 2005. Rosneft CEO Sergei Bogdanchikov announced in March 2006 that his company is considering building oil refinery. In April, Russian President Vladimir Putin asked the Cabinet to develop measures of support for building the refinery on Russian territory. However, the company has not yet been appointed the project’s chief executive. Meanwhile, other oil companies, including LUKOIL, want to take part in the project.
If Rosneft is to cover all costs on its own, it will have to invest about $6.5 billion into the project. Rosneft intends to invest $2.9 billion into the reconstruction of its refineries by 2011. Thus, the company will have to put about $10 billion into developing its refineries in the coming five years.
Omskneftekhimproekt prepared for Rosneft a declaration with preliminary characteristics for building an oil refinery at the terminal point of the East Siberia-Pacific Pipeline. Three sites are considered for the refinery. Regardless of Rosneft’s choice, the investment into the project is estimated at about $6 billion. However, the state company has not yet been officially commissioned with carrying the project out.
Omskneftekhimproekt handed over to Rosneft on January 15 the declaration of intentions concerning building an oil refinery at the terminal point of the East Siberia-Pacific Pipeline (VSTO). The project is to build a factory with the capacity of 20 million metric tons.
However, the project is not confined to just one factory. A new terminal will be built for the new refinery. Experts say the terminal’s cost depends on various factors, including the choice of berthing structure, and thus estimate it between $160 million and $420 million.
Transneft head Semen Vainshtok was the first to speak of building the oil refinery at the VSTO’s terminal, back in November 2005. Rosneft CEO Sergei Bogdanchikov announced in March 2006 that his company is considering building oil refinery. In April, Russian President Vladimir Putin asked the Cabinet to develop measures of support for building the refinery on Russian territory. However, the company has not yet been appointed the project’s chief executive. Meanwhile, other oil companies, including LUKOIL, want to take part in the project.
If Rosneft is to cover all costs on its own, it will have to invest about $6.5 billion into the project. Rosneft intends to invest $2.9 billion into the reconstruction of its refineries by 2011. Thus, the company will have to put about $10 billion into developing its refineries in the coming five years.
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