Transneft and FAS still at odds over Z-P tariff

摘要

Russian pipeline operator Transneft started commercial crude deliveries through its new 600,000 b/d Zapolyarye-Purpe (Z-P) line this month, but still cannot agree a tariff with federal anti-monopoly service FAS. Transneft built Z-P to ship crude from new Yamal-Nenets fields to the East Siberia-Pacific Ocean export route, but crude shipped through Z-P this month has flowed west towards Russia’s Baltic ports, the Black Sea port of Novorossiysk and domestic refineries, it says. Since the start of trials flows in September, Z-P has received 600,000t (4.38mn bl) from Yamal-Nenets fields and will this month receive a further 300,000t from Lukoil’s 507mn bl Pyakyakhinskoye and 1.5bn bl East Messoyakh, being jointly developed by Gazpromneft and Rosneft. Transneft is charging a Z-P tariff of Rbs1,034/t ($16/t) — five times higher than producers originally expected and 50pc above the figure it proposed in November. The company blames inflation and lower-than-expected crude availability. Transneft invested over Rbs200bn in building Z-P, which has been among its most challenging and costly projects.