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Russia will increase capacity of western ports by 40 mln tons

Russia is planning to increase capacity of oil transshipment in the west of the country by 40 mln tons, said Deputy Prime Minister of Russia Alexander Novak during the panel discussion of the REW Youth Day. The moderators of the discussion were the Global Energy Association President Sergey Brilev and TV host from Russia 24 Channel Alexandra Suvorova.

15.10.2022
in News, Science and Technology
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Russia will increase capacity of western ports by 40 mln tons

Александр Новак | Alexander Novak

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The photo is sourced from photo.roscongress.org

According to the Deputy Prime Minister, oil production in Russia this year, despite sanctions, will be slightly higher than the last year.

“This year we expect even higher production volumes in comparison with the previous year, not by much, but higher. The oil exports will be higher by roughly 8%. Our oil companies have managed to reorient at other markets, to organise logistical chains, to find new settlement mechanisms and to transition to national currencies. That is, we see a new stable situation: maintaining volumes and switching to the new markets”, – noted A. Novak.

“The main part will be oriented at Asia-Pacific region, such as India and Pakistan, as well as other directions: these are Africa and Latin America, meaning those which need our energy resources”, –added the Deputy Prime Minister.

According to him, solution to this objective will require the ports capacity expansion and optimisation of supply chains.

“We will boost our logistical capacity. Our plans include expanding capacity of the ports of Ust-Luga, Primorsk, and Novorossiysk by roughly 40 mln tons”, – he noted.

Besides, the Vostok Oil project will be realised and enable the export via Dickson and the Northern Route up to 100 mln tons of oil.

“The plans incorporate new logistical projects. Rosneft is realising the Vostok Oil project – the new oil production centre, where initially 30 mln tons will be produced; and in the future – 100 mln tons. This will be a new logistic park in the north of the Krasnoyarsk Region in the vicinity of the port of Dickson”, – he emphasised.

Tags: AfricaAsiaIndiaLatin AmericaPakistanRussia

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