The news was announced by the Russian PM Vladimir Putin when he presented a government report to the State Duma, lower house of the Russian parliament.
Transneft's shares surged more than 12 percent immediately following Putin's statement, according to Interfax.
Russia and China signed an intergovernmental agreement on the construction of an ESPO branch toward China and long-term Russian oil supplies in February.
When presenting the report Putin also mentioned other pipeline projects developed by Russia, such as Nord Stream, South Stream, the Caspian Gas Pipeline and the Burgas-Alexandroupolis oil pipeline. The Russian PM assured that all these projects are economically feasible. He was rather firm in describing the Russian positions towards the events that recently occured, like Ukraine-EU agreement on the Ukrainian pipeline system modernization.
«Attempts to exclude Russia from the global decision making process, moreover in the energy sphere, and disregard to its lawful interests are counterproductive," the Interfax quoted him as saying.
Author: Ksenia Kochneva
