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  Wednesday, November 13, 2019
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The head of Transneft, Semyon Vainshtok, is sure that a decision on the construction of a branch of the East Siberia - Pacific oil pipeline to Chinese border will be taken
"The decision has not been taken yet, but I am 90% sure it will be," Vainshtok told a press conference held in London within the framework of the 8th annual Russian economic forum. At the same time, he noted that if the decision is taken, there may be a shortage of resources to fill the pipeline. The official pointed out that not until the decision to build the branch is taken will Transneft start developing the project conception. He reminded those present that the company in collaboration with the Ministry of Industry and Energy, Ministry of Natural Resources and other departments concerned must submit a version of construction stages' design for the project to the government by May 1. "This is what we shall do," Vainshtok was quoted as saying. The total capacity of the pipeline is to make up 80 million metric tons a year. The pipeline will carry oil to the Asian-Pacific region. In total, the project is estimated at $11.5 billion
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