Russian Railroads and Yukos sign agreement, first delivery of oil sent to China

The president of the open joint-stock company Russian Railroads, Genadi Fadeev, told a working group today that he highly valued an agreement signed Saturday with the oil company Yukos. As reported by a Rosbalt correspondent, the press office of the railroad company reported that the first deliveries of oil had already reached the Zabaikalsk station.

At present, some 260-300 railroad cisterns pass through the town, but in the near future that volume is set to increase. In accordance with the signed agreement, the volume of railroad transports of oil to China in 2004 will total 6.4 million tons. In 2005, that volume is set to increase to 8.5 million tons, and in 2006, to nearly 15 million tons, including through the frontier station of Zabaikalsk-Manchuria (up to 10 million tons per year), and through Naushki-Sukhe-Bator (up to 5 million tons).

Genadi Fadeev has also directed that a business plan be developed without delay to increase the capacity of the Angarsk-Zabaikalsk station.