SPIMEX and Transneft Sign an Updated Version of the Liaison Protocol


A new version of the Liaison Protocol has been signed by SPIMEX and the Russian oil pipeline company Transneft. 
The document governs matters related to shipment of vessels in the Baltic port of Primorsk under physical contracts entered into on expiry of the SPIMEX Urals Crude futures and sets information exchange procedures to be used by the parties pursuant to The Shipment Dates Confirmation Rules with Regard to Cargoes Delivered from Primorsk under the SPIMEX Urals Crude Futures signed by the parties on 31 August 2017. 
Under the new version of the Liaison Protocol an early confirmation of shipment dates in Primorsk will become possible for trading participants that transact in the SPIMEX Urals Crude Futures, information which is essential for scheduling exports of Russian crude oil from that Baltic port. 
The shipment dates confirmation scheme sets mutual obligations of all interested parties: SPIMEX, Transneft and petroleum companies. 
Saint Petersburg International Mercantile Exchange (SPIMEX) is the largest Russian commodity exchange which offers a wide range of products traded both in its Commodities Sections (refined products, crude oil, natural gas, LPG, timber and construction materials) and in its Derivatives Section. The Exchange’s key task is operating a transparent price formation mechanism to ensure fair prices for the commodities produced in Russia. SPIMEX was incorporated in 2008.

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