November 18, 2011 [Reuters] – Russia's new Baltic oil terminal at Ust-Luga will load its first crude oil cargo on Dec. 15-20, the chief executive of Russia's oil pipeline monopoly Transneft said on Friday.
“By December 15-20 we plan to finish all the works… and the first cargo will load,” Nikolai Tokarev told reporters, adding that the terminal was expected to ship 20 million tonnes of crude in 2012.
Trade and industry sources said on Thursday that possible problems with infrastructure at Ust-Luga could delay its first crude loading, scheduled for Nov. 30, for an undetermined period.
He also said the company would stick to its current dividend policy.
