Source Pravda.Ru

Tatneft Wants to Build Oil Refinery near Primorsk

The Tatneft oil company has sent an official letter to the Leningrad Region administration requesting a plot of land for the construction of an oil refinery in the Primorsk port area. This was announced yesterday at a press conference by Grigory Dvas, a deputy governor of the Leningrad Region and chairman of the Economic and Investment Committee. Dvas reminded journalists that Rosneft and Surgutneftegaz had previously announced their intention to construct an oil refinery together, although 'Rosneft's management have also made attempts to reach an independent solution, without Surgutneftegaz.

Dvas stressed that 'we have no doubts that Tatneft and Rosneft are genuinely interested in these projects.' The deputy governor believes that all three companies have sufficient financial resources to build the oil refineries.

Rosneft and Surgutneftegaz signed an agreement with the Leningrad Region's administration in the summer of 2002 on their intention to build an oil terminal at the Primorsk port. The capacity of the oil refinery will be approximately 6 to 10 million tonnes a year. The pipelines and oil-handling terminal are planned to be built near the village of Yermilovo. Investment in the refinery will total USD 1.4 billion and construction of the plant will take 4 years.

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