SIA Ventspils nafta termināls plans to invest more than 1 million EUR in implementation of a new service 18 May 2009, Riga Crude oil and petroleum product transhipment company SIA Ventspils nafta termināls, a subsidiary of joint-stock company Ventspils nafta, has planned to invest more than one million EUR with perspective to offer its customers a new service - blending of motor gasoline with liquid butane or butanisation, by obtaining a content of gasoline demanded on several world markets, especially in USA. If this plan is implemented, SIA Ventspils nafta termināls will be the only company in the Baltic states able to provide such service, and it could improve competiteveness not only of the terminal itself or Ventspils Port, but also the total competiteveness of the entire Latvian transit corridor, and increase the flow of transit cargo via Latvia. In order to provide a new planned type of service, the terminal requires construction of special blending equipment, and in case of receipt of all necessary authorisations the maximal volume of the butane to be added to gasoline could reach 60,000 tones per year. New equipment and its used technologies fully comply with latest European standards and norms both from safety and ecological point of view. According to the long-term development strategy of the company, SIA Ventspils nafta termināls will continue to strengthen its positions as the most modern complex of crude oil and petroleum product transhipment in the Baltic region, by planning its operation under the same principles as other companies of the international concern Vitol Group, SIA Ventspils nafta termināls co-owner, around the world. Most important SIA Ventspils nafta termināls projects on improvement of the infrastructure to ensure the maximally effective operation of the company in the coming years also include construction of the pipeline corridor from the company's territory to the jetties located many kilometres far in the port, where loading into tankers is carried out - planned investments in this project could be about 3.7 million lats. SIA Ventspils nafta termināls is a subsidiary of a/s Ventspils nafta. 51% of it belongs to a/s Ventspils nafta, but 49% - to Vitol's company Euromin Holdings Limited. The terminal renders transit services: reception of crude oil and gas oil through the pipelines, reception of gas oil, motor gasoline and other petroleum products by rail and sea, as well as storage and transhipment of all these products. A/s Ventspils nafta Further information - Gundega Vārpa, Public Relations and Advertising Manager, tel. +371 67229182; e-mail: gundega.varpa@vnafta.lv www.vnafta.lv www.vnt.lv
SIA Ventspils nafta termināls plans to invest more than 1 million EUR in implementation of a new service
| Source: Ventspils nafta