Transneft spokesman Igor Demin held a press conference Monday, in which he talked about the company’s achievements and plans to expand its presence.
VLADIVOSTOK. August 9. VOSTOK-MEDIA – Transneft spokesman Igor Demin held a press conference Monday, in which he talked about the company’s achievements and plans to expand its presence in the Asia-Pacific oil markets.
“At present, we supply oil by rail. Each day 9 to 11 trains with crude run from Skovorodino to Kozmino,” said Igor Demin. “The supplies will be considerably increased when the Skovorodino-Kozmino leg of the pipeline will be constructed and start to operate in full.”
He said that oil from the Eastern Siberia–Pacific Ocean (ESPO) sells rather well. Among its buyers are the sea ports in South Korea, China, Japan and even San Francisco. In addition, the ESPO type of oil is more sought after than Dubai’s oil, which is currently enjoying dominating presence at the Pacific oil markets.
“Should a branch of St. Petersburg oil exchange be set up in Vladivostok the city would gain additional revenues. Ultimately, ESPO oil will influence prices on other types of crude. If properly organized, the trading venue in Vladivostok may become a major trading platform at the Pacific market, in spite of the fact that the pipeline’s maximum capacity will be about 80 million tons of crude yearly, which is lower than supplies of Arab oil or even Alaska’s oil,” said Igor Demin.