Russian Justice Ministry registers new FAS order, Transneft tariffs to rise 9.9% on Jan 1 given further indexation

MOSCOW. Dec 28 (Interfax) - The Russian Justice Ministry has registered a new Federal Anti-monopoly Service order, according to which oil pipeline monopoly Transneft's tariffs will rise 9.9% on average on January 1.

The document was posted on the legal information website.

The Justice Ministry on December 16 registered an FAS order on hiking the tariffs for the services of Transneft to pump oil by 5.8% as of January 1, 2025, as per the current government resolution, which provides for the "inflation minus" approach. According to the resolution, it was decided to agree with the proposals of the FAS and "set such tariffs in 2021-2030, based on their annual increase to 99.9% of the forecast consumer price index for the next regulatory period."

Tariffs for Transneft services were indexed by 5.99% from January 1, 2023, by 4.3% in 2022 and by 3.6% in 2021.

Transneft, for which the profit tax rate will be raised from 20% next year not to 25%, like for everyone else, to as much 40%, has asked the government to further index tariffs for its oil pumping services, increasing them from January not by 5.8%, but by 8.7%.

The order will raise the tariff for oil transportation along the Taishet - Meget/Angarsk Petrochemical Company route from 439.13 rubles (excluding VAT) to 482.6 rubles per tonne; Yaroslavl 3 - Primorsk (Baltic Pipeline System) route from 886.61 rubles to 974,38 rubles per tonne; the network tariff on the routes from the points of Aprelskaya, Vatyegan, Purpe to LLC Transneft-Port Primorsk and LLC Transneft-Baltika (Ust-Luga oil depot) - from 2,547.06 rubles (excluding VAT) to 2,799.22 rubles per tonne; and Klin - Ust-Luga route from 1,028.98 rubles to 1,130.85 rubles per tonne.

The network tariff for the East Siberia - Pacific Ocean (ESPO) system for the delivery of oil for export to China and through the port of Kozmino increases from 3,372.98 rubles (excluding VAT) to 3,706.91 rubles per tonne.

The tariff for pumping on the Zapolyarye - Purpe route increases from 547.09 rubles (excluding VAT) to 601.25 rubles per tonne, and Kuyumba - Taishet from 869.72 rubles to 955.82 rubles per tonne.

The cost of transit on the route Makhachkala - Sheskharis increases from 485.63 rubles (excluding VAT) to 534.81 rubles per tonne, and on the route Azerbaijan/Russian border (Shirvanly) - Sheskharis - from 952.18 rubles (excluding VAT) to 1,046.45 rubles per tonne.

On the route Torgili - Yurgamysh - Cherkassy-1 (UBKUA) - Yurgamysh (TON-2) - Russia/Kazakhstan border (TON 2) and Torgili - Yurgamysh (TON-2) - Russia/Kazakhstan border (TON-2) the tariff changes from 723.34 rubles (excluding VAT) to 794.95 rubles per tonne.