LLC LatRosTrans (LRT), a subsidiary of JSC Ventspils nafta, oil product transportation volume through the pipeline reached 3.6 million tons in the first half of 2013, which is 24% more than in the first 6 months of the previous year. Though traditionally the highest diesel fuel transportation volumes are observed in winter months, May and June of the current year also showed an increase in transportation volumes – by 32% and 59% respectively as compared with the previous period.

This increase has been achieved owing to the changes in the distribution of the oil product cargo volumes. Igors Stepanovs, LRT Board Member, explains that this is also related to transportation costs: “Pipeline transportation is certainly cheaper and more profitable for the client than transportation by rail. And usually the clients choose it if there is such a possibility. LRT transports diesel fuel with high sulfur content received from Russian refineries, but recently we have widened the scope of our services and now we are also transporting diesel fuel with low sulfur content which we receive from Belarus.”  

Information about LatRosTrans

LLC LatRosTrans owns two crude oil pipelines in the territory of the Republic of Latvia – Polotsk-Mazeikiai and Polotsk-Ventspils, which have not been used in recent years for the transit pumping of crude oil. In turn, the Polotsk – Ventspils oil product pipeline belonging to LatRosTrans is actively used at present for transportation of diesel fuel.

LatRosTrans is the biggest Latvian-Russian joint venture in the Baltic states. The Russian partner – OJSC AK Transnefteprodukt (daughter company of JSC АК Transneft) – owns 34% of the company’s shares, while 66% of the shares belong to the joint-stock company Ventspils nafta (NASDAQ OMX RIGA: VNF1R).

Additional information:

Ilze Nagla

PR Manager

Ventspils nafta Group

Tel.: +371-29267454, +371-67715914

E-mail: ilze.nagla@vnafta.lv