In Russia will build a reserve for petroleum products
Release Date: 2011-07-13
Energy Minister Vitaly Shmatko told reporters that the process reservation of fuel will begin in July/ August. Objective - to avoid the petrol crisis, which led to a inlflation in many regions of Russia.
The company, which is assigned with creation, became the state-owned "Rosneftegaz." Vital Shmatko noted that the reserves will be limited to a strip of 2 million tons, and the money to purchase them will be spent either from company's funds or by attracting loans.
It is worth noting that the contracts on the establishment of fuel reserves with "Rosneftegaz" had already been signed by such companies as Lukoil and "Gazprom Neft", according to RIA "Novosti".
Experts estimate the initiative of the Ministry of Energy restrained. As explained in an interview with "RG" President of the Union of the Oil and Gas producers Gennady Schmal, you must first have a clear understanding of the supply and demand system across regions and only if we are to speak about the reserve. In addition, he noted, this provision "must be stored somewhere and transpered, and we have only 19 000 km worth of pipelines in our vast country as opposed to those in the U.S., where its length - several hundred thousand." The experts believes that the reserve is certainly needed, although due to its volume it's unlikely that it will have a serious impact on the market.
However, the process is in progress. According to Vitaly Shmatko, currently economic and legal issues of creating the reserve are being worked out and the process will be supported and regulated by the relevant government agency. However, the minister stressed, the system will be commercial and the "government should watch out for the potential business risks."
Provision of oil is a topic that has been discussed for several years. Previously, "Transnefteproduct" (monopoly on oil transportation through pipelines) was offered to complite the deal, but in February of this year, Energy Minister said that for such purposes Rosrezerv is suited better. In the end due to the process of intervention of strategic reserves being associated with a huge number of legal issues, this course of action was rejected.
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| Url: | http://www.rg.ru/2011/07/13/rezerv-site.html |