MOSCOW, January 9. /TASS/. Transneft expects a decline in oil transportation over its system by 2% as of the end of 2024 because of Russia’s commitments within the OPEC+ framework, Vice President of the Russian oil pipeline operator Sergey Andronov said in an interview with the Oil Pipeline Transport corporate magazine.
"It is expected that this year [2024 - TASS], compared to the prior one, the volume of oil transportation along main oil pipelines of Transneft will drop by about 2%, which is associated with commitments undertaken by Russia to reduce the production volume as part of the OPEC+ agreement. An eastbound increase is observed at the same time, which is a premium direction for Russian shippers: oil shipments via the port of Kozmino are growing. To meet the demand for supplies, Transneft made everything possible to maximize growth of the throughput capacity of the East Siberia - Pacific Ocean (ESPO) system," Andronov said.
Shipments via Kozmino in 2024 would for the first time be above oil throughput via the port of Primorsk, the largest one in Northwestern Russia. "Transneft optimized organization of the vessel handling process over the last two years, which enabled to expedite work and increase throughput volumes by a third," he noted.
Pipeline supplies of petroleum products will remain at the same level with a small increase in deliveries to the domestic market.