The government Commission on the fuel and energy sector will examine the effectiveness of the project Yamal-the Volga region

Moscow. December 23. The governmental Commission on fuel and energy complex chaired by Deputy Prime Minister Arkady Dvorkovich made the decision to involve experts to assess the potential economic efficiency of the project of the pipeline “Yamal-the Volga region”, the message on the government website.

After receiving the results of the evaluation it was decided to hold further discussion of the feasibility of this project.

In addition, the Commission has considered the problems and prospects of development of exchange trade in oil, oil products, gas and coal, and the formation of a new price benchmark on the basis of Russian oil.

The meeting led to the decision to continue work on improvement of exchange trade in hydrocarbons in the domestic market of the Russian Federation.

“Yamal-the Volga region” – a consortium established in 2013, the Bashkortostan, Tatarstan and Yamal-Nenets Autonomous region to implement the project of construction of pipelines for transporting hydrocarbons from Yamal to Volga regions. The founders were OJSC “Nizhnekamskneftekhim” (33,4% of shares), OJSC “Regional Fund” (33,3%) and non-profit organization “Regional innovation and investment Fund “Yamal” (33.3 per cent).

In may 2012, the Bashkortostan, Tatarstan and Yamal-Nenets Autonomous district signed a Protocol on cooperation in the field of transportation of hydrocarbons, including natural gas liquids and gas condensate, on a route Yamal-the Volga region. Bashkiria and Tatarstan is planned to develop a comprehensive program of perspective development of the Volga petrochemical cluster on the basis of raw material resources of the West Siberian region. The cost of the project implemented on public-private partnership, is 80-120 billion.