| Emitents | Ventspils nafta, AS |
| Veids | Citi |
| Valoda | EN |
| Statuss | Publicēts |
| Versija | |
| Datums | 2011-11-08 10:11:36 |
| Periods | |
| Versijas komentārs | Corrections made in the currency exchange rate and in the relationship among the mentioned companies – in the title and first, second, third, sixth and seventh paragraph |
| Teksts |
VTTI, a company related to Ventspils nafta terminals
(VNT) and one of the largest terminal operating companies in the
world, in cooperation with Summa Group have signed a long-term
agreement with the Port of Rotterdam, the largest port in Europe,
on building and operating a new major crude oil and petroleum
product terminal in the area exceeding 55 hectares in the
Port. Vitol Group, co-owner of VTTI and one of the largest
investors in Latvia, considers this a huge deal beneficial also for
Latvia as it will positively affect the crude oil transit from
Russia to Europe.
“At the moment VNT is one of the largest terminals
related to VTTI Group with the capacity of 1.2 million cubic
meters. We don’t see the new terminal in Rotterdam as our
competitor, to the contrary, the terminal will strengthen our
positions at the group level on the global oil market. As one of
the biggest terminals related to the group we are ready to share
our best practice on efficiency and high standards of work and
environment safety,” says General Director of Ventspils nafta
terminals (VNT) Lars Pantzlaff.
In the Port of Rotterdam it is planned to build
approximately 3 million cubic meters of storage facilities
allocated for Urals crude oil and petroleum products. Investments
are expected to total up to approximately 1 bln USD (approx 0.5 bln
LVL or 0.7 bln EUR). The new terminal will operate as an "open hub"
terminal creating a trading platform for Urals crude
oil.
After the initial permitting and design process, the
construction work for the new terminal is expected to commence in
2013 resulting in an operational start-up in 2015.
Speaking about the agreement, Rob Nijst, CEO of VTTI,
said: “VTTI has played a leading role in this new concept for
developing a crude oil hub, which establishes the company as a
major player in international crude logistics. This project is a
major step for VTTI in enhancing its position in Rotterdam as well
as in the global oil terminal industry, and in realizing ambitious
plans for growth.”
VNT provides transit services - receipt, storage and
loading of oil and petroleum products via pipelines, rail tank cars
and tankers. VNT is the largest company in the region with the
total tank storage capacity of 1.2 million cubic
meters.
The shares of VNT are owned by 51% by one of the major
holdings in the Baltic States – the public joint stock company
Ventspils nafta (NASDAQ OMX RIGA: VNF1R), 49% of shares are owned
by Eurotank Holding Sarl, which is related to the international
terminal operating company VTTI. VTTI which is partly owned by
Vitol group operates a network of 11 petroleum product
terminals with a gross combined capacity of nearly 6 million cubic
metres, which is set to expand to nearly 8 million cubic metres by
2013.
Additional information:
Ilze Nagla
Public Relations Manager
JSC “Ventspils nafta”
Phone: 29267454, 67715914
E-mail: ilze.nagla@vnafta.lv
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