Transneft and Hyundai Discuss Pipeline

February 9, 2009

(RBC News ) - During a meeting with Hyundai Corporation's President Noh Young-Don, Transneft's management discussed the South Korean company's possible participation in the construction of the Eastern Siberia-Pacific Ocean (ESPO) pipeline's second stretch, the Russian oil transportation company's press office reported today.

      At the moment, the ESPO project does not envisage either South Korea's participation or the construction of any branches running to the country, stipulating only the 64-kilometer leg from the ESPO to China. According to preliminary agreements, stretches of this pipeline will be built in Russia and China simultaneously, with each country independently constructing the stretches of the pipeline on its own territory.

- Copyright 2009, RBC News. All rights reserved.