Novak re-appointed as board chairman of Transneft

Novak re-appointed as board chairman of Transneft

Russia's Energy Minister Alexander Novak was re-appointed as board chairman of the oil pipeline monopoly Transneft, the company said in a regulatory statement.

The Company's Board of Directors consists of Alexander Novak, former Minister of Transport Maxim Sokolov, Managing Director of Nord Stream 2 AG  Matthias Warnig, Director General, the Russian Direct Investment Fund (RDIF) Kirill Dmitriev, Chairman of the Board of Directors of Sovcomflot Ilya Klebanov, Chairman of the Human Resources and Remuneration Committee under the Board of Directors of Transneft Aleksandr Korsik, Chairman of the Management Board of Transneft Nikolay Tokarev, President of the Union of Oil and Gas Producers of Russia Genady Shmal and former Governor of Nizhny Novgorod Region Valery Shantsev.

Transneft also said it had set an upper limit of $15 per barrel for paying compensation for contaminated oil and claimants will have to prove they have incurred damage from the contamination, Reuters reported.