17 Jan '11
Oil pipe monopoly Transneft estimates investment into construction of Zapolyarye – Purpe oil pipeline in Yamalo-Nenets Autonomous District at $4bn, the company reports.
Under plans, the project is to be co-financed by partnering oil companies, such as Gazprom Neft, LUKOIL, TNK-BP and Gazprom.
Transneft has reportedly founded a new firm – Zapolyarye – to carry out the project.
Further timeframes for the project, including its timeframes, have yet to be disclosed.