Timchenko’s company to receive $907m-worth labor contract with Gazprom

Timchenko’s company to receive $907m-worth labor contract with Gazprom
Gennady Timchenko

This is a second-large contract for all history of Stroytransneftegaz.

Stroytransneftegaz (STNG) which half belongs to Gennady Timchenko and his relatives can sign a contract for expansion of the gas pipeline Sakhalin — Khabarovsk — Vladivostok with Gazprom for the total amount of 51.4 billion rubles ($907m), Interfax with reference to sources reports.

According to the agency, the monopoly plans to sign the contract in April, the procurement procedure will take place without competition, “at the only supplier”. The date of performance of contractual obligations is specified as December, 2019. In turn, RBC notes that for Timchenko's company it will be the second-large contract from Gazprom for all history of existence of the contractor. So, now the largest contract of Stroytransneftegaz for construction of the Force of Siberia gas pipeline is estimated at 74.2 billion rubles ($1.32b).

At the same time, the media with reference to sources notes that the choice of Stroytransneftegaz as the contractor on Sakhalin is doubtful, as the company has no special equipment in this area in enough amount. Timchenko's company should either rent the equipment at subcontractors, or to make own investments (from 2 billion rubles for the equipment which will allow to lay 50 km of pipelines a year in this area), the interlocutor of RBC specifies.

Meanwhile, the analyst of BKS Kirill Tachennikov in general doubted expediency of expansion of the gas transmission system Sakhalin — Khabarovsk — Vladivostok. According to him, Gazprom often overestimates animators and efficiency of own projects. As a result, by the analyst's estimates, in the middle of 2015 Gazprom could spend at least 2.4 trillion rubles on the projects which would be eventually unclaimed, that was the cost of Rosneft then.

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