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Wed 30 Dec 2009, 10:19 GMT

Russian terminal launch set to hit Gdansk bunker sales


Launch of new oil terminal is expected to have a negative effect on bunker sales volumes in Gdansk.

The launch of Russia's new oil terminal in Far East Russia is set to have negative repercussions for bunker sales on the other side of the world, in the Polish port of Gdansk, as Russia puts into action its plan to diversify its oil exports away from the West.

Speaking earlier this week at the inauguration of the Pacific Oil Terminal at the port of Kozmino, near Vladivostok, Prime Minister Vladimir Putin said "This is the completion of one of the biggest projects in contemporary Russia. This is a strategic project because it allows (us) to come to new markets, the growing Asia-Pacific markets."

The new oil terminal, which cost Russia's Transneft $2 billion, will allow petroleum products to be transported by ship via the Pacific Ocean to customers around the world.

However, the launch of the Far East facility is also set to lead to a significant reduction in throughput at the Naftoport terminal in Gdansk - which handled around 3.9 million tonnes of oil products this year - as Russia cuts exports via Poland to the Lotos and PKN Orlen refineries.

Bunker companies set to be affected by reduced volumes in Gdansk are Szczecin-based physical suppliers Ship-Service S.A., O.W. Bunker Sp. z o.o. and Oktan Energy & V/L Service Sp. z o.o..

Launch   Poland  Russia  Gdansk (PL)  Vladivostok (RU) 
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