Itar-Tass reported that Transneft has no difficulties about financing the construction of the Eastern Siberia-Pacific oil pipeline

Mr Nikolai Tokarev president of Transneft president told Vesti-24 program that the costs of the initial stage of the pipeline’s construction are estimated around USD 300 million and that there is an arrangement with Russia’s Savings Bank for financing the project.

Mr Tokarev however said that there are certain problems with subcontractors for the oil pipeline’s construction. He said “There are unfulfilled obligations of subcontractors to Transneft on a number of sections, and there is a lag of three to four months, as compared wilt the schedule.”

He concluded that “He believes the initial stage of the construction of the Eastern Siberia Pacific pipeline will be fulfilled, and the pipeline’s capacities will be fully used.”