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Business news, 27.01.2004 14:23

TNK-BP plans to construct oil terminal in Leningrad region

TNK-BP plans to construct oil terminal in Leningrad region Russian-British TNK-BP is planning to construct an oil terminal in Ust Luga (Leningrad Region). This was announced by Vice Governor of the Leningrad Region Grigory Dvas. 'They have already chosen the location, carried out the hydrographic research and sent their application to the regional administration,' the vice governor said. He added that the application will be considered at the end of January or at the beginning of February. Mr Dvas explained that the company is seeking to build the terminal as soon as possible as this project is very important. He said it is a 'massive project' and the preparation work alone will take about a year.'

Mr Dvas mentioned that German company Oiltanking sent a letter to the regional administration last week confirming that it 'is interested in taking part in the project to construct the oil terminal and is conducting negotiations with TNK-BP about working together on the project but is also considering other options.'

Oiltanking Deutschland is an independent operator which specializes in the transportation of liquid freight. The company operates 68 oil terminals.

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