Source Pravda.Ru

USD 1.2 Billion to Be Invested in Baltic Pipeline System

Investment in increasing the capacity of the Baltic Pipeline System (BTS) to 30 million tonnes of oil a year will total USD 1.2 billion. This was announced at a press conference at by Alexander Glebov, the general director of Transneft subsidiary Baltnefteprovod.

The project will see the construction of a new 708-kilometre branch of the pipeline from Yaroslavl to Primorsk. The planned diameter of the pipeline is 1022 millimetres, which will allow capacity to be increased from 30 million to 35 million tonnes a year if necessary. Construction is expected to take 18 months.

The first stage of the BTS was brought on line at the end of December 2001. The project cost USD 420.2 million and can handle 12 million tonnes of oil a year. The second stage of the BTS is planned to be brought into use in November 2003. It will have a capacity of a8 million tonnes of oil a year. The cost of the second stage will be 6.5 billion roubles (USD million). Implementing the second stage of the BTS will require laying 215 looping sections, expanding existing compressor stations and building the new Palkino 2 compressor station, as well as constructing a mains pumping facility and helipad at the Bykovo oil refinery.

As reported earlier, Transneft's management believes that the Russian government will approve the project this month. Glebov said that a loan for the construction of BTS-2 will be provided by a Russian bank.

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