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VNF: SIA Ventspils nafta termināls plans to invest more than 1 million EUR in implementation of a new service

Spekuliantai.lt | 2009-05-18 | NASDAQ OMX biržų naujienos | perskaitė: 1489
Raktiniai žodžiai: Ventspils nafta, VNF
VNF: SIA Ventspils nafta termināls plans to invest more than 1 million EUR in implementation of a new service

Ventspils nafta Company Announcement 18.05.2009

SIA Ventspils nafta termināls plans to invest more than 1 million EUR in
implementation of a new service

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: [email protected]
www.vnafta.lv
www.vnt.lv

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