The volume of Russian crude oil exports through Varandey export oil terminal in January-March 2011 amounted to 1 million 321.2 thousand tons, PortNews reported with reference to the Archangelsk Port Authority. In March, oil shipments through the terminal amounted to 417,200 tons.
Russian oil major LUKOIL put into operation the terminal located in the Nenets village of Varandey more than two years ago. The terminal was designed for export of crude oil extracted by LUKOIL in Timan-Pechora oil and gas province. In 2008, the volume of oil shipments via the terminal was 1,7 million tons, in 2009 – 7,5m, in 2010 – 7,44m.
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.