---

Rosneftbunker has signed a credit line agreement with Vnesheconombank worth US$200 million. The agreement was signed by Vnesheconombank Deputy Chairman Anatoly Ballo and Rosneftbunker Director General Konstantin Khamlai.

The credit facility will be used to complete the financing of a liquid bulk cargo terminal at Ust-Luga and will be made available as part of US$545 million worth of project financing.

The terminal, which will be used for the transshipment of petroleum products, is expected to have an annual throughput of more than 20 million tonnes of oil products per year.

Situated on the Luga River, approximately 110 kilometres west of St. Petersburg, Ust-Luga is located practically on the border between the Russian Federation and the European Union.

The deep water area of the port (17 metres) together with the 3,700-metre approach canal make Ust-Luga port the only Russian port on the Baltic Sea capable of admitting dry-cargo vessels with a deadweight of up to 75,000 tonnes and liquid cargo carriers with a deadweight of up to 120,000 tonnes.

The port is expected to play an important role in the transportation of oil products as it is one of the few Russian ports capable of providing access to large deadweight vessels to export processed oil products, thus removing the dependence on foreign export terminals.

There are currently six terminals operating in Ust-Luga port: a coal transshipment terminal, the Universal transloading complex, a terminal for technical sulphur transshipment, a motor-railway ferry complex, the actively developing Yug-2 Multipurpose transloading complex and the 'Factor’ timber terminal.

The port's new oil cargo complex is expected to be put into operation before the end of the year and there are also plans to launch a container terminal.