PRIMORSK (Leningrad region), April 7 (RIA Novosti, Olga Vtorova) - The Baltic Pipeline System has been launched to its full design capacity of 1.3 million barrels a day, Russia's industry and energy minister said Friday.
"The facility is brilliant for Russian infrastructure in terms of all parameters," Viktor Khristenko told journalists.
Earlier, Khristenko promised the pipeline, which vastly reduces Russia's dependency on transit countries, would reach design capacity in mid-April.
The first stage of the Baltic Pipeline System was opened in 2001 with a 240,000 bbl/d capacity.
The Baltic Sea port of Primorsk, which has also been expanded, is one of Russia's biggest projects, coming in at an estimated cost of $2.2 billion. The port's cargo turnover in 2005 was more than 50 million metric tons (1 million bbl/d) and the opening of new capacities will mean four tankers with a displacement of 100,000 tons each can be received simultaneously.
Khristenko said state-owned oil pipeline monopoly Transneft, which is the operator of the Baltic Pipeline System project, had paid off almost all its loans attracted for the project.
"All investment, all the loans taken out for the project have been returned," he said.
