Joint Stock Company Transneft (russian: Транснефть) is a
state-controlled pipeline transport company headquartered in Moscow, Russia. It is the largest oil pipeline company in the world. Transneft is operating over of trunk pipelines and transports about 80% of oil and 30% of oil products produced in Russia.
The company is led by Nikolay Tokarev
Nikolay Petrovich Tokarev (russian: Николай Петрович Токарев; 20 December 1950 in Karaganda, Kazakh SSR) is a Russian businessman and oligarch. He is the president of the Russian pipeline company Transneft.
Early life and K ...
.[
]
History
Transneft was established by the Government of the Russian Federation on 14 August 1993 and it was registered by the Moscow Registration Chamber on 26 August 1993.
Semyon Vainshtok headed Transneft from 13 September 1999 to 11 September 2007. born October 5, 1947, Climăuți
Climăuți is a village in Dondușeni District, Moldova
Moldova ( , ; ), officially the Republic of Moldova ( ro, Republica Moldova), is a landlocked country in Eastern Europe. It is bordered by Romania to the west and Ukraine to the nor ...
, Dondușeni District
Dondușeni District () is a district (''raion'') in the north of Moldova. Its administrative center is the city of Dondușeni. As of 2011, its population was 45,100.
History
The earliest attestations historical towns down in 1437 when the dist ...
, Moldavian SSR
The Moldavian Soviet Socialist Republic ( ro, Republica Sovietică Socialistă Moldovenească, Moldovan Cyrillic: ) was one of the 15 republics of the Soviet Union which existed from 1940 to 1991. The republic was formed on 2 August 1940 ...
), ''Weinstock'' is another spelling of his surname. Through his shell companies in Bahamas
The Bahamas (), officially the Commonwealth of The Bahamas, is an island country within the Lucayan Archipelago of the West Indies in the Atlantic Ocean, North Atlantic. It takes up 97% of the Lucayan Archipelago's land area and is home to ...
, Cyprus
Cyprus ; tr, Kıbrıs (), officially the Republic of Cyprus,, , lit: Republic of Cyprus is an island country located south of the Anatolian Peninsula in the eastern Mediterranean Sea. Its continental position is disputed; while it is geo ...
, and Switzerland
). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...
, he has investments with Aker Solutions
Aker Solutions ASA, an engineering company based in Oslo, provides the products, systems and services required to unlock energy from sources such as oil, gas, offshore wind and capture. The company, founded in 1841, was known as Aker Kværner u ...
, the largest Norwegian
Norwegian, Norwayan, or Norsk may refer to:
*Something of, from, or related to Norway, a country in northwestern Europe
* Norwegians, both a nation and an ethnic group native to Norway
* Demographics of Norway
*The Norwegian language, including ...
oil company which was formerly known as ''Aker Kværner''.[Alternate archive]
/ref> In the late 1990s, Vainshtok ensured the funding of Baltic Pipeline System OJSC for the building of BTS-1 and in October 1999, he appointed Alexei Miller the general director of Baltic Pipeline System
The Baltic Pipeline System (BPS) is a Russian oil transport system operated by the oil pipeline company Transneft. The BPS transports oil from the Timan-Pechora region, West Siberia and Urals-Volga regions to Primorsk oil terminal at the eastern ...
.[ In November 2007, he was closely associated with the ]Dutch
Dutch commonly refers to:
* Something of, from, or related to the Netherlands
* Dutch people ()
* Dutch language ()
Dutch may also refer to:
Places
* Dutch, West Virginia, a community in the United States
* Pennsylvania Dutch Country
People E ...
oil firm Vitol
Vitol is a Swiss-based multinational energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger. Though trading, logistics and distribution are at the core of its business, these are complemente ...
through its joint venture Petrovit. Of the global oil traders in 2006, Glencore
Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. The current company was c ...
led with $116.5 billion, then Vitol had $113.9 billion and third was Gunvor with $30 billion.[ In Russia in 2008, he and Yuri Lisin (russian: Юрий Лисин), the former president and first vice president of Transneft respectively, along with Vainshtok's son in law Boris Lokshin (russian: Борис Локшин) were accused by ]Alexei Navalny
Alexei Anatolievich Navalny ( rus, links=no, Алексей Анатольевич Навальный, , ɐlʲɪkˈsʲej ɐnɐˈtolʲjɪvʲɪtɕ nɐˈvalʲnɨj; born 4 June 1976) is a Opposition to Vladimir Putin in Russia, Russian opposition ...
of stealing $2 billion via money laundering
Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions ...
from Transneft through 15 billion rubles in contributions to charities from 2005-2008 and a 31.6 billion rubles scheme for the construction of the Eastern Siberian-Pacific Ocean (ESPO) oil pipeline (russian: Восточная Сибирь — Тихий океан (ВСТО)) with VNIIST OJSC (russian: ОАО «ВНИИСТ»), Giprotruboprovod OJSC (russian: ОАО «Гипротрубопровод»), and Krasnodarstroytransgaz (russian: «Краснодарстройтрансгаз») which is a shell company that received from Transneft 30 billion rubles of equipment and materials through SDM-Leasing LLC (russian: ООО «СДМ-Лизинг») with an additional advance of 7 billion rubles.[ Although Vainshtok had direct access to Putin and was well liked by Putin, ]Gennady Timchenko
Gennady Nikolayevich Timchenko (russian: Геннадий Николаевич Тимченко, ''also spelled'' Guennadi Timtchenko; born 9 November 1952) is a Russian oligarch and billionaire businessman. He founded and owns the private inv ...
of Gunvor
Gunvor Group Ltd is a Cypriot-domiciled multinational commodity trading company registered in Cyprus, with its main trading office in Geneva, Switzerland. Gunvor also has trading offices in Singapore, the Bahamas, and Dubai, with a network of re ...
did not like Transneft and Vainshtok and went to Igor Sechin
Igor Ivanovich Sechin (russian: И́горь Ива́нович Се́чин; born 7 September 1960) is a Russian oligarch and a government official, considered a close ally and "de facto deputy" of Vladimir Putin.
Sechin has been a confidant ...
of Rosneft
PJSC Rosneft Oil Company ( stylized as ROSNEFT) is a Russian Vertical integration, integrated energy company headquartered in Moscow. Rosneft specializes in the exploration, Extraction of petroleum, extraction, production, refining, Petroleum t ...
who allowed the new president of Transneft Nikolai Tokarev to audit Transneft in late 2007 and found discrepancies involving Vainshtok during the construction of ESPO pipeline. On April 17, 2008, he stepped down from Olimpstroy (russian: Олимпстрой) which was the Russian state owned corporation that was developing the resort at Sochi
Sochi ( rus, Со́чи, p=ˈsotɕɪ, a=Ru-Сочи.ogg) is the largest resort city in Russia. The city is situated on the Sochi River, along the Black Sea in Southern Russia, with a population of 466,078 residents, up to 600,000 residents in ...
for the 2014 Winter Olympics
, ''Zharkie. Zimnie. Tvoi'')
, nations = 88
, events = 98 in 7 sports (15 disciplines)
, athletes = 2,873
, opening = 7 February 2014
, closing = 23 February 2014
, opened_by = President Vladimir Putin
, cauldron =
, stadium = Fisht Olympic ...
that Vainshtok had headed from September 11, 2007, and moved to London
London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...
where he resided until 2010 when he moved to Israel
Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated ...
.[
In 2008, ]Transnefteproduct
Transnefteproduct (Russian: Транснефтепродукт) is an operator of oil products pipelines headquartered in Moscow, Russia. It operates more than oil pipelines. It was established by the Government of the Russian Federation on 30 Au ...
, a company transporting refined oil products, was merged into Transneft.[
][
]
In 2018, Transneft took over 31% of shares which belonged to the Russian Federation in Caspian Pipeline Consortium
The Caspian Pipeline Consortium (CPC) is a consortium and an oil pipeline to transport Caspian oil from Tengiz field to the Novorossiysk-2 Marine Terminal, an export terminal at the Russian Black Sea port of Novorossiysk. It is one of the world's ...
.
Operations
Transneft is operating over of trunk pipelines and transports about 80% of oil and 30% of oil products produced in Russia.
Accusations
Documents submitted by Transneft to the Russian Audit Chamber in 2008 were found at the disposal of Alexey Navalny
Alexei Anatolievich Navalny ( rus, links=no, Алексей Анатольевич Навальный, , ɐlʲɪkˈsʲej ɐnɐˈtolʲjɪvʲɪtɕ nɐˈvalʲnɨj; born 4 June 1976) is a Russian opposition leader, lawyer, and anti-corruption act ...
, a minority shareholder of Transneft. The papers, published on 16 November 2010, contain information regarding multiple economic crimes committed by Transeft employees including Semyon Vainshtok, its daughter structures and contractors in the construction of the Eastern Siberia – Pacific Ocean oil pipeline. The documents described Transneft executives' setting up a series of shell companies to pose as contractors for Transneft's pipeline project. Navalny posted an audit indicating that the contracting fraud had cost Transneft US$4 billion. Both Transneft and the government auditing office, whose documents Navalny said he leaked on his site, denied the corruption claim. Prime Minister Vladimir Putin
Vladimir Vladimirovich Putin; (born 7 October 1952) is a Russian politician and former intelligence officer who holds the office of president of Russia. Putin has served continuously as president or prime minister since 1999: as prime min ...
called for an investigation into the allegations. All facts of theft and fraud were confirmed by the company management. The reports that recorded the breaches were endorsed by the officials.
Sanctions
On February 24, 2022, in response to Russia's military operations in Ukraine
Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inv ...
, several countries moved to impose more economic sanctions
Economic sanctions are commercial and financial penalties applied by one or more countries against a targeted self-governing state, group, or individual. Economic sanctions are not necessarily imposed because of economic circumstances—they may ...
in addition to those in response to the 2021-2022 Russo-Ukrainian crisis
In March and April 2021, the Russian Armed Forces began massing thousands of personnel and military equipment near Russia–Ukraine border, Russia's border with Ukraine and in Crimea, representing the largest mobilization since the illegal ...
. US President Joe Biden announced sanctions against several Russian individuals, companies, and financial institutions, including Transneft.
See also
*Energy policy of Russia
Russia's energy policy which is set out in the government's ''Energy Strategy'' document, first approved in 2000, which sets out the government's policy to 2020 (later prolonged up to 2030). The Energy Strategy outlines several key priorities: ...
* Russia-Belarus energy dispute
Notes
References
External links
Official website in English
Transneft news
Transneft press releases
Publications about Transneft
A Transneft JSC Shareholder Intends to Bring the Company Management to Criminal Liability
{{authority control
Russian companies established in 1992
Companies based in Moscow
Non-renewable resource companies established in 1992
Companies listed on the Moscow Exchange
Government-owned companies of Russia
Oil companies of Russia
Oil pipeline companies
Russian brands
Russian entities subject to the U.S. Department of the Treasury sanctions
Energy companies established in 1992