icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
14 Feb, 2007 06:55

Oil route to bypass Belarus might be ready in less than 18 months

Oil route to bypass Belarus might be ready in less than 18 months

A new pipeline that will bypass Belarus and expand oil exports from Russia's Baltic Sea port of Primorsk could be built in less than 18 months.

Russia raised the idea of the Primorsk pipeline in January, after a dispute with Belarus halted crude supplies to Europe.

The head of Russian pipeline monopoly Transneft, Semyon Vainshtok, says that eventually 1 MLN barrels per day will be pumped through the pipeline.

Transneft is also planning to build Russia's first pipeline to Asia by 2009.

Vainshtok said the company would be able to fund both projects by increasing foreign borrowing.