January 23, 2018 / 8:48 AM / a month ago

Rosneft considers spur from Druzhba oil pipeline to German refineries

MOSCOW, Jan 23 (Reuters) - Russian largest oil producer Rosneft is considering building a spur from the southern branch of the Druzhba pipeline to supply refineries in Germany, a spokesman said on Tuesday.

Crude is now being supplied via the TAL pipeline to the MiRO and Bayernoil refineries, in which Rosneft has 24 percent and 25 percent stakes respectively.

The spokesman said discussions were ongoing about building the spur line.

Rosneft-Germany executive director Brian Chesterman, who also said the project was in the early stage of discussions, said it could take three to five years to complete, Russia’s Kommersant daily reported.

“Given that the project might require the approval of the European regulators, we think it could well be some time before any potential construction starts,” VTB Capital analysts said.

Rosneft said on Monday it planned to invest at least 600 million euros ($734 million) in Germany in the next five years, without identifying how the money would be spent.

$1 = 0.8179 euros Reporting by Vladimir Soldatkin; Additional reporting by Katya Golubkova; Editing by Edmund Blair

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