February 24, 2012 [Reuters] - The launch of Russia's new Ust-Luga Baltic oil terminal, undergoing repairs after damage caused by multiple landslides, is again postponed to an unspecified time, trading sources told Reuters on Friday.
The terminal had a false start late last year, when cargoes were awarded by top Russian oil producer Rosneft for December lifting from the new facility, but by mid-November the quay had been hit by three landslides, putting off its launch to early 2012.
Traders said last week that oil company Surgutneftegaz had offered a cargo for lifting in Ust-Luga, where the second phase of the Baltic Pipeline System terminates, at the end of February.
But traders told Reuters on Friday that the loading will not happen this month, with Glencore getting 200,000 tonnes of Urals from Surgutneftegaz in Primorsk in March instead of 100,000 tonnes from Ust-Luga on February 27-28.
“As far as we know, at the moment there are preparations for loading the first test tanker ongoing,” said Igor Dyomin, spokesman for Transneft, which operates the terminal. “We are assuming that these works will end in a week.”
