Russian and Dutch oil terminal owners form joint venture

N-Trans and the Netherlands' Vopak, which both own oil storage terminals in Estonia, have announced the establishment of Vopak EOS joint venture, the RBC Daily newspaper reported today. N-Trans will receive a 65-percent stake in the new company, while Vopak will hold the remaining 35-percent with an option of increasing its stake to 75 percent before the end of August 2008. The partners expect the joint venture to become the leading terminal in the Baltic countries as early as 2008.