Operation of the pipeline "Novopolotsk-Ventspils" in reverse will not affect Russian interests

Economic entities of Belarus and Latvia have to reach appropriate agreements with the Russian company Transnefteprodukt to make the operation of the pipeline "Novopolotsk-Ventspils" possible. The pipeline is supposed to work in reverse mode for Venezuelan oil transportation to Belarus. The statement was made by Michael Popkovs, the Latvian Ambassador to Belarus, in Minsk on November 17.

Economic entities of Belarus and Latvia have to reach appropriate agreements with the Russian company Transnefteprodukt to make the operation of the pipeline "Novopolotsk-Ventspils" possible. The pipeline is supposed to work in reverse mode for Venezuelan oil transportation to Belarus. The statement was made by Michael Popkovs, the Latvian Ambassador to Belarus, in Minsk on November 17.

"We must bear in mind that the pipe itself is owned by Lattrans" in which two-thirds of the authorized capital belongs to the Ventspils Nafta, and a third to a Russian company Transnefteprodukt, which is a 100 per cent subsidiary of Transneft. According to Charter the Russian shareholders have a right to veto over the work of the pipeline in the reverse mode ", - Mikhail Popkovs said. Thus, "it is necessary to negotiate with the Russian side to have its approval or to persuade the Russian side sell their shares to a third party who agrees to participate in the project", - said Mr. Ambassador.

According to M. Popkovs, in 2010 Belarus led the negotiations with Ventspils Nafta, which is interested in participating in this project. At first it was a project for five-year period of cooperation, then this period was reduced to half. Now Belarus is talking about the possibility of concluding a contract on a trial pumping of Venezuelan oil to reverse the pipeline.

The diplomat recalled that the pipeline "Novopolotsk-Ventspils" is not operated since 2004. Currently, he is filled with technological oil. And this implies that the operation in the reverse principle will not affect Russian economic interests. However, according to Mr. Ambassador, this route was initially focused on the export of Russian oil and all its infrastructure is configured properly. Therefore, to resume operation of the pipeline and its transfer in reverse mode requires investments and conduct of complex engineering activities. In particular, the oil should drain the oil and technology to conduct a full examination of pipes, as in Belarus and the Latvian territory. You also need to install new pumps, which allow the tube to work in reverse mode.