Rosneft is looking for an outlet to the Barents Sea

The company proposes to return to the idea of ​​an oil pipeline to Indiga.
Rosneft is trying to revive the project to build the Indiga port on the Barents Sea and the oil pipeline to it, which was abandoned ten years ago because of the loss. The oil company wants to redirect its oil there from the Trebs and Titov fields, because it has disagreements with LUKOIL about the cost of transshipment through its terminal Varandey. Sources of Kommersant and analysts believe this initiative, which will require investments of hundreds of billions of rubles, is not realizable.

As it became known to Kommersant, the government on the initiative of Rosneft is ready to return to discussing the project for the construction of the Indiga port on the shores of the Barents Sea and the oil pipeline before it. Two sources of Kommersant in the industry reported that a meeting on this issue in the Ministry of Energy was scheduled for December 1 by Deputy Minister Kirill Molodtsov. But, as explained "Kommersant" yesterday in the department, it was postponed, and the new date is still unknown. The pipeline to Indiga is needed by Rosneft for pumping oil from Trebs and Titov fields. They are developed by Bashneft-Polyus LLC (75% of Bashneft, whose controlling shareholder is Rosneft, 25% - from LUKOIL), production in 2018 is projected at 4 million tons.

That is, Rosneft accounts for about 3 million tons of oil, which the company is now transporting via the Varandey terminal owned by LUKOIL (capacity - 12 million tons). But, Kommersant sources familiar with the situation explain, Rosneft has been demanding a discount from LUKOIL for transshipment for several months (the current rate is $ 38 per tonne). In addition, Rosneft planned to build a gas liquefaction plant (Pechora LNG) in Indiga, but has not yet started designing. Rosneft and LUKOIL do not comment on the situation.

The depth of the Indiga Bay is 18 m, the port will be able to receive tankers with deadweight up to 100 thousand tons.

Local authorities actively support the construction of the Indiga port. According to calculations that the then governor of the Nenets Okrug Igor Koshin sent to Deputy Prime Minister Dmitry Rogozin in September, the total amount of investments in the port will be 353 billion rubles. Another 190 billion rubles. (in prices of 2015) Mr. Koshin proposed to send to the railway branch of Sosnogorsk-Indiga.

The issue of the construction of the main oil pipeline to Indiga Bay for oil from the Timan-Pechora province arose in the early 2000s. But Transneft has always been told that this direction is not strategic for the company against the backdrop of the construction of the ESPO oil pipeline. The length of the pipeline to Indiga was to be about 470 km, capacity - about 20 million tons of oil from the northern fields of the Nenets Autonomous District, explains the adviser to the head of Transneft Igor Demin. But then, he explains, in the northwest of the Russian Federation only one oil-loading port operated - Primorsk, there was neither Ust-Luga, nor Varandey. According to him, the preliminary construction cost in the prices of 2017 is 200-235 billion rubles. Now oil from the Timano-Pechora fields is transported via the Usa-Ukhta and Ukhta-Yaroslavl pipelines, and then goes to Russian refineries or to export through Primorsk. At the same time, in 2018, Transneft is expanding the pipe from Usy to Yaroslavl (costs are about 8 billion rubles), and Rosneft in October approached Transneft with a request to connect to the pipeline, since it is closest to Trebs fields and Titov. Igor Demin also notes that already now in Ust-Luga and Primorsk there are approximately 10 million tons of free capacity for transshipment, and the capacity surplus is likely to grow as West Siberian oil is transferred to China via the ESPO.

Port Indiga, in addition to oil deposits Trebs and Titov can be used for transshipment of oil from other deposits of Timan-Pechora, but this will require the expansion of the railway infrastructure, said Ekaterina Grushevenko, an expert at the energy center of the Skolkovo business school. As for the pipeline, a similar project was rejected by Transneft in 2007, during the high oil prices, due to low profitability, as well as difficult weather and natural conditions, and now the situation has only become more complicated. According to the interlocutor of "Kommersant" in the industry, it is unlikely that the idea of ​​building an oil pipeline to Indiga will be realized, because it relies on the needs of only one company in pumping relatively small volumes, which for sure can not recoup the cost of creating a pipe.