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.