Petersburg Oil Terminal to expand storage capacity by 2012
11.05.2010 - NEWS
November 3, 2010 [PortNews] - Petersburg Oil Terminal (POT) is launching the next phase of its long-term investment program, intended for the period until 2020, PortNews reports citing the company’s press service.

The 40,000-cub.m reservoir for storage of exported petroleum products will be built at the POT and launched by 2012’s summer navigation (April-May). The new facility construction cost is projected at around $25 million, the company said.

This will be the third largest oil storage tank. However, in contrast to the existing reservoirs, this new one is intended for storage, as well fuel oil as for vacuum gas oil. As a result, the POT’s capacity for simultaneous storage of petroleum products will be increased to about 400,000 cub m.

As POT’s CEO Igor Teleshev said, “in this case, we set about not only the next phase of development of the oil terminal, we are talking about its diversification. Today, we are investing into reliable modern environmentally friendly technologies. I am sure they will bring us and to the port of St. Petersburg, a tangible result.”

The Terminal, offering its clients an expanded range of commodities, boosts the competitive advantages of the terminal itself, since export volumes of VGO from Russia has recently increased significantly.

Overall, the company’s portfolio of investments from 1996 to 2020 has totaled $432 million. To date, some $177 million has been spent.

In 2007, there were two 40,000-cub.m storage tanks built on the newly established territory of POT designed for storage of exported petroleum products. These tanks are far superior in size versus the existing 20,000-cub.m tanks. Since 2007 the company is carrying out construction of new reservoirs of a double-walled technology. The company specialists say the new technology saves the terminal space and a high degree of environmental safety. Construction of new reservoirs by the new technology “glass in glass” is another important pace of the company in the implementation of environmental controls.

Year-to-date, POT handled 10.2 million tons of petroleum products (including dark petroleum products – 7.4 million tons, the rest – light products), nearly the last year’s transshipment volume.

JSC Petersburg Oil Terminal provides services for handling and storage of light and dark petroleum products intended for export and vessel bunkering. The company produces high-quality analysis of petroleum products, accepts and processes the oily water from ships calling at the port.

Tepsa Netherlands nears completion of expansion, adding nine new storage tanks
02.14.2025 - NEWS
Tepsa Netherlands is set to complete its latest storage capacity expansion, adding nine new stora... Read More
MOL Group Successfully Tested the Production of HVO and SAF at Eastern European Refinery
02.14.2025 - NEWS
February 14, 2025 [Hydrocarbon Processing]- MOL Group has produced a diesel fuel containing hydro... Read More
Verso Energy Plans €1.4bn e-SAF Production Facility in Finland
02.14.2025 - NEWS
February 14, 2025 [H2 View]- French company Verso Energy has agreed to build a hydrogen processin... Read More
PBF Refineries to Operate Up to 76% of Capacity in Q1
02.14.2025 - NEWS
February 14, 2025 [Hydrocarbon Processing]- Independent U.S. refiner PBF Energy plans to operate ... Read More