KINEX-Holding has chosen a site in Primorsk for the construction of an oil terminal. As Deputy Governor of the Leningrad Region Grigory Dvas told journalists, the local administration is now preparing a decree to approve the choice of site. He added that KINEX-Holding is already making plans for construction of the terminal.
The new oil terminal is expected to have a capacity of 12 million tonnes a year (2 million tonnes of crude oil, 2 million tonnes of refined oil and 8 million tonnes of fuel oil), according to the regional economic and investment committee. The project is worth about USD 94 million and is expected to be completed over 4 years. According to Mr Dvas KINEX-Holding will be able to finance the construction project with its own funds.
KINEX-Holding (Saint Petersburg) is a trading partner of Surgutneftegaz. KINEX-Holding's sells over 10 million tonnes of oil every year.
The TurkStream, which runs along the bottom of the Black Sea from Russia's Anapa to Turkey, will consist of two lines, each with a capacity of 15.75 billion cubic meters of gas a year