Tokarev: Russian Oil Competitive on Asia-Pacific Markets

April 7, 2010

The East Siberia-Pacific Ocean (VSTO) pipeline is already becoming a real competitor to traditional oil suppliers to the Asia-Pacific region”, Transneft President Nikolay Tokarev said according to the Transneft company magazine Oil Pipeline Transport .

Tokarev said the Kozmino port, which is the end point of the VSTO pipeline, is already pressuring traditional routes. He said Kozmino port’s main advantage is it proximity to the market. “While Arabian oil travels to the countries of the rising sun, our tankers can make the trip there and back again twice”. He added, “Our oil has better characteristics and is cheaper. Tokarev also noted that VSTO oil is loaded onto 100,000 ton tankers which are easier to maneuver in ports than 300,000 ton tankers from Saudi Arabia.

Tokarev pointed out that when Kozmino was still under construction last year, a large number of Japanese officials, businessmen and journalists “to see for themselves how the project was progessing and whether or not there were prospects for using our oil for their needs”.

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