Transneft to start construction of Kozmino port and ESPO second phase in March 2008

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

28 Feb 2008

Transneft will start construction of Kozmino port (end point of East Siberian-Pacific Ocean pipeline) in March 2008. According to Gudok.Ru referring to Interfax, it was announced Wednesday in Vladivostok by Transneft President Nikolai Tokarev at a presentation of the Declaration of Intent to build the second phase of ESPO.  "As of today, feasibility study has been completed for the terminal construction. It has been approved by state expertise. In March we are to start the project implementation, Mr. Tokarev said. The terminal of the specialized oil port Kozmino will have two berths for handling of 80,000-dwt tankers (first phase) and 150,000-dwt tankers (second phase). The first phase is supposed to handle 300 tankers per year. The number is to grow to 500 tankers when the second phase is put into operation.According to Mr. Tokarev, the project is valued at RUR 41 billion.Besides, implementation of the second phase of ESPO (Skovorodino in the Amur Region to Kozmino in Primorski Territory) will also be started in March.The second leg will stretch for 2,100 kilometers (1,304 miles) from Skovorodino to the Pacific. It will pump 367.5 million barrels of oil annually. The second stage also envisages an increase in the Taishet-Skovorodino pipeline's capacity to 588 million barrels.