The petroleum products terminal of Gunvor, a Swiss oil trader at the port of Ust-Luga (Leningrad region, the Gulf of Finland), could possibly be launched this fall, Maxim Shirokov, Director General of Ust-Luga Company (Ust Luga port project developer) said in an interview with Reuters. Since some of the border crossing infrastructure and power supply issues are still pending, the launch of the oil terminal will most likely be postponed from the spring to the autumn this year.
The terminal is expected to become the largest complex for transshipment of oil products in the Baltic Sea. The construction of the new terminal’s major facilities has been completed, Mr. Shirokov said. After its launch the terminal’s capacity would allow transshipment of 7-10 million tons of exported oil products, to double throughput in 2011. The final capacity of the terminal’s facilities is estimated at 30 million tons of petroleum products a year, a one-fifth of total Russian oil exports.
The Ust-Luga Port’s liquid bulk cargo facility is intended for export shipment of crude oil and MFO. The terminal project supply scheme includes shipment of oil products by railroad to the port, temporary storage at oil depot and further loading of oil products onto tankers. In August 2009, CEO of RosNeftBunker Konstantin Hamlay had said that the terminal would be launched by the end of December 2009. Later, the date had been rescheduled, to start the operation in the first half of 2010. The terminal project worth RUB26bn is funded by VneshEconomBank. RosNeftBunker is a Gunvor’s arm.
The terminal is expected to become the largest complex for transshipment of oil products in the Baltic Sea. The construction of the new terminal’s major facilities has been completed, Mr. Shirokov said. After its launch the terminal’s capacity would allow transshipment of 7-10 million tons of exported oil products, to double throughput in 2011. The final capacity of the terminal’s facilities is estimated at 30 million tons of petroleum products a year, a one-fifth of total Russian oil exports.
The Ust-Luga Port’s liquid bulk cargo facility is intended for export shipment of crude oil and MFO. The terminal project supply scheme includes shipment of oil products by railroad to the port, temporary storage at oil depot and further loading of oil products onto tankers. In August 2009, CEO of RosNeftBunker Konstantin Hamlay had said that the terminal would be launched by the end of December 2009. Later, the date had been rescheduled, to start the operation in the first half of 2010. The terminal project worth RUB26bn is funded by VneshEconomBank. RosNeftBunker is a Gunvor’s arm.