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Monday, February 15, 1999

Russian oil firm plans to invest in Estonia 

Tallinn  
Russian Lukoil is prepared to invest in the planned 600 million Estonian kroons ($43.09 million) oil terminal in the North-eastern Estonian Port of Sillamae, the business daily Aripaev reported last week. The paper quoted the firm's president, Vagit Alekperov, who made his comments while on a trip to Estonia on last Thursday.

The paper said Alekperov also suggested setting up a regular railway service from Perm in Russia to the Estonian capital Tallinn to transport oil to Tallinn's Muuga Port. Aripaev reported that Estonian Railways gave the proposal a cool response. Meanwhile, the Russian gas monopoly Gazprom welcomed agency reports saying the government planned to scrap natural gas exports tariffs, but officials could not confirm the truth of the reports. Interfax news agency quoted a "well informed" but anonymous fuel and energy ministry source as saying that the government would abolish the tariffs "in the nearest future."

News agency, which quoted an equally anonymous government source. But OlegRumyantsev, spokesman for fuel and energy minister Sergei Generalov, said he could not confirm or deny the report. The head of the tariffs policy department at the trade ministry Andrei Kushnirenko was also unable to clarify the situation. "The rumours are strong, but I have not seen a draft of such a (government) resolution sent to our ministry for approval, nor heard it was actually being prepared," Kushnirenko said.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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