Transneft begins 'take or pay' scheme

Transnefteproduct, the subsidiary of OJSC Transneft, said that this year, it will begin pumping petroleum products under its “take or pay” scheme. Under the scheme, users of Transneft’s system will pay for the transport of petroleum products. Transneft will also buy fuel only from companies that “soundly receive these products through specific oil refineries connected to the main pipeline and possessing primary operational information on technical possibilities and the work mode for acceptance and delivery points,” Transneft said in a press release. Transneft Spokesman Igor Demin said that the company’s new policies “will not only allow for a careful use of resources for transportation, but it will also allow us to prevent low-quality products of unknown origin from mixing into the system.” (January 24, 2012)