26-04-03 The European Bank for Reconstruction and Development (EBRD) has agreed in principle to provide a $ 150 mm loan to Russian oil product pipeline monopoly Transnefteprodukt, the deputy head of Transnefteprodukt’s finance department Anna Zavidova said.
The loan will be used to finance the construction of a light oil products terminal in the city of Primorsk in the Leningrad Region. The terminal will be a part of the Kstovo-Yaroslavl-Kirishi-Primorsk oil product pipeline, which the company plans to start building this autumn.

On April 15, EBRD approved providing a five-year $ 75 mm loan to Transnefteprodukt to upgrade the company’s long-haul pipeline system and improve environmental safety. The 1,309 km Kstovo-Yaroslavl-Kirishi-Primorsk pipeline will be completed in two or three years and will require investments of $ 1 bn.
The pipeline’s capacity will be 24 mm tpy, the capacity of its first stage is 10 mm tpy.

The pipeline will link the Nizhny Novgorod Region’s Kstovo refinery, refineriesin Yaroslavl and the Leningrad Region’s Kirishi refinery with the Primorsk Baltic Sea oil product terminal.
The Yaroslavl refineries are controlled by the Slavneft oil company, which was recently bought by TNK and Sibneft oil majors. Surgutneftegaz owns the Kirishi refinery.