16 June 2004 09:31
FRADKOV BELIEVES VYSOTSK TERMINAL MAY BE EXPANDED
VYSOTSK. June 16 (Interfax) - Russian Prime Minister Mikhail Fradkov believes that the terminal built by Russian oil
major Lukoil in Vysotsk to export oil and oil products to Europe and the U.S. may be expanded.
Presidential envoy to the Northwestern Federal District Ilya
Klebanov said "this is a start to achieving the task set by the
"This is a case where the interests of business coincide with state interests and are included in the Russian
energy strategy," Fradkov said at the opening ceremony.
president of doubling GDP."
Leningrad region governor Valery Serdyukov expressed the hope that the oil companies Rosneft and Surgutneftegas
"will not take long to get organized and will come to Leningrad region with their oil products and export
them."
The capacity of the first phase of the terminal is 4.7 million tonnes of oil products per year, and of the entire
terminal - about 12 million tonnes per year. The first phase cost about $200 million to build and construction began in
June 2002.
The project was financed by a 12- year, $225-million loan from HBK
Fund LP of the United States to RPK- Vysotsk Lukoil II, the special
The terminal will have two rail transshipment complexes, 17 reservoirs, three docks, two of which can handle tankers
with deadweight of 47,000 tonnes and 80,000 tonnes. It is planned to use the complex to export products from Perm,
Nizhny Novgorod and Ukhta oil refineries.
Earlier Lukoil planned to launch the terminal in November 2003. However, the company put back the launch date and
decided to launch the entire first phase of the terminal at one time, as the technical chain for servicing the first and
second start-up complexes is unified.
The company ZAO Lukoil-Neftegazstroi carried out the turnkey construction of the plant together with Fluor
Corporation from the U.S.
purpose company owning the terminal. OPIC provided a $130-million loan guarantee, while Credit Suisse First Boston
arranged the financing and provided a $75-million loan guarantee.
Oil and oil products are supplied to the terminal mainly by rail and in the summer period river-sea tankers will
supply fuel oil to the terminal.
[Interfax] |
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