Ust Luga

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Rhod Mackenzie
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Gazprom believes that Ust-Luga is more convenient for the “Baltic LNG”

Ust-Luga (Leningrad region) can be chosen for the construction of the “Baltic LNG”, the deputy head of “Gazprom”, V.Golubev said. He stated that “Gazprom” discusses a number of variants, inclusive of the site in Vyborg.
“Ust-Luga is more convenient as there is already a water way there,” he said and added that the climatic conditions are also better in this place, there is no ice.
The first stage of the plant within the framework of the project “Baltic LNG”, is the considering of the construction of the plant on gas liquefaction in Leningrad region, will be launched in late 2018. The plant’s capacity may make up 10 million tons.

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In Q4, export of oil to the non-CIS states may decrease by 13%

In the fourth quarter of 2013, the export schedule to the non-CIS states provides for a decrease in oil supplies via the Transneft system by 13% as compared with the scheduled in the third quarter to 43.919 million tons, the agency Bloomberg reports.
According to the Central Dispatch Department of the Fuel and Energy Sector, the real oil export to the non-CIS states made up 47 million tons in the second quarter.
In the fourth quarter, the main decrease of the export will concern the oil transshipment through the marine ports. Thus, in the fourth quarter, the export through Novorossiysk will fall by 34% to 6.569 million tons, through Primorsk by 7.5% to 13.6 million tons and through Ust-Luga by 21% to 5.5 million tons. On the contrary, the oil export through Kozmino will increase by 1.9% to 5.3 million tons.

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Gunvor Group completes the syndication of a $675 million credit for the oil products terminal in Ust-Luga

The Gunvor Group has announced the completion of the syndication of the credit line in the amount of $675 million to finance the strategic investment project of the group – the oil products terminal in the port of Ust-Luga, the group reports. The 100% subsidiary of Gunvor Rosneftbunker Plc. (the operator of the terminal) acted as the borrower without the gurantee of the parent company.
The transaction demonstrated the high level of the confidence of the banks in the Gunvor Group. “Despite the fact that the credit line has been attracted without the guarantees of Gunvor, international and Russian banks were ready to provide more than $1.3 billion”, the Chief Financial Director of Gunvor Group, Jacques Erni said.

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Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
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