Lukoil to build oil product terminal

Russia’s Lukoil is to invest USD 150 million in an oil product terminal at the port of Vysotsk in the Leningrad region. Construction of the terminal will begin at the end of June and will be completed in September 2003. The terminal will be oriented towards exports of heavy types of fuel, particularly to the USA. The planned capacity of the terminal is 10 million metric tons of oil products a year. It is planned that volume at the terminal will amount to 10 million tonnes of oil products per annum. Lukoil has acquired 100% of shares in Baltkhimexprot, which has designed a chemical terminal in Vysotsk to handle methanol and ammonia.

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