Pipeliners

RBC, 13.04.2005, Moscow 14:59:35.Transneft is poised to sign an agreement for a co-loan worth USD250m with the British Barclays Bank, the press service of the Russian transportation company has reported. The loan will be used to finance a project aiming at enhancing the capacity of the Baltic Pipeline System to 60m tons a year. The Baltic Pipeline System is meant to export oil to US and European markets. Transneft is planning to complete the Baltic Pipeline System project within a year, in the first quarter of 2006. Before this deadline, the company proposes to make 145 kilometers of linear pipeline portions operative, build another oil transfer pumping station, and upgrade eight more, and extend the special oil sea port of Primorsk.