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The Anti-crisis Plan Will Deprive Rosneft Of NWF Money
January 25, 2015 00:01


The anti-crisis plan will deprive “Rosneft” of NWF money.

The approach to the use of the National Welfare Fund (NWF) has changed: now the money will be allocated to the anti-crisis plan in the first place, and then later on infrastructure projects. This was written by “Vedomosti” with the reference to the federal officials involved into the discussion of anti-crisis measures.

The government plans to abandon projects with the approved funding from the National Welfare Fund. Only those projects will be left where there are private investors who are ready to increase their share. NWF had 4.946 trillion roubles on January 1- it swelled due to the devaluation of the rouble.

Earlier the First Deputy Prime Minister Igor Shuvalov estimated the anti-crisis plan in 1.375 trillion roubles. 550 billion roubles from NWF will be spent on it, according to the official involved into the development of anti-crisis measures. The government-approved list now includes ten projects for 665 billion roubles.

Russian Railways received 50 billion roubles (for BAM and Transsib) and can count on another 100 billion until the end of the year. Another 4 billion are allocated to the Russian Direct Investment Fund for the project with “Rostelecom”. No more projects received money from NWF.

Previously the newspaper reported that “Rosneft” asked to allocate NWF money on 17 extracting and 11 processing projects. The application amount exceeds one trillion roubles. In this case the free limit of NWF on Russian projects is provided in the amount not exceeding 1.16 trillion roubles.

As it is noted, if all 28 applications of the Oil Company are approved, NWF limit will be reached. In this connection the officials believe that a break should be made in regard to these projects.

Author: Anna Dorozhkina

Tags: Rosneft Russian oil and gas industry    

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