Varandey terminal based in the Nenets village of Varandey enables exports of oil extracted by Russian oil giant LUKoil in Timan-Pechora oil&gas province. In 2008, when VOET was launched, crude exports amounted to1,7m tons, a year later - 7,5 million tons.
The fixed offshore ice resistant oil export terminal (FOIROT) comprises: onshore tank farm with the total rated capacity of 325,000 cbm; fixed offshore ice resistant oil terminal located 22 km offshore; two underwater pipelines connecting the onshore tank battery and the FOIROT and other production facilities.
The Varandey project was implemented by LUKOIL jointly with ConocoPhillips. The crude oil is exported mainly to the U.S. and Canada market.