LUKOIL has put $600 billion DTC LUKOIL-II into operation in the Leningrad Region
LUKOIL has put Distribution-and-Transshipment Complex LUKOIL-II (DTC) into operation at Vysotskij island (Leningrad Region). Total volume of investments into construction amounted to about $600 billion. This information has been provided by PRIME-TASS. According to Vladimir Kaluzhenov, director general of DTC, it is the best DTC in Russia and Europe. We returned all the flows of oil products from the ports of Finland and Baltic states to Russia, he added. According to Vladimir Nekrasov, vice-president of LUKOIL, terminal’s technical capacities (15 million tons of oil products) are to be introduced gradually. The complex is to contribute into the budget of the Leningrad Region 500 million rubles annually. Designed capacity of the terminal including three phases is 11.6 million tons of oil products per year. The first phase of the terminal was put into operation in June 2004, the 2nd one – in April 2005. Total capacity of the terminal’s tanks after commissioning of the third stage is to be 460 thou cubic meters. In 2005 6.9 million tons of oil and oil products were shipped at Vysotskij DTC. Plan of 2006 provisions transshipment of about 9 million tons of oil products. Further development of railroad infrastructure near the terminal and construction of a branch from the main oil product line Kstov-Primorsk will make it possible to reach annual transshipment of 13.5 million tons of oil products at the terminal and to extend the range of shipped oil products. The construction of the terminal was carried out jointly with American engineering company Fluor Corporation, the credit for construction was granted by American private investment fund HBK Fund, the guarantors of the credit was US state agency Overseas Private Investment Corporation (OPIC) and Credit Swiss First Boston bank. It was for the first time that OPIC financed the project 100% of which belongs to Russian company.