St. Petersburg City Administration has approved area planning documentation of land reclamation for expansion of Marine Oil Terminal “Turukhtannye Islands” based in the seaport Big Port St. Petersburg. The project investor is BFC Group. Thus, BFC was given the green light to start building of an artificial land area of 1.43 hectares.
Currently, the terminal territory encompasses 7.3 hectares including two berths for handling oil products with annual throughput of 500, 000 tonnes of products(the 2013 year-end figure).
The BFC Group’s investment program includes the overhaul and modernization of the Terminal, which will help to increase substantially the facility’s capacity. The expansion plan will reportedly enable the Terminal to handle at least 1.7 million tonnes of products in 2015-2016. As from 2017 the facility is expected to transship 2.4 million tonnes a year, and from 2020 – up to 4-5 million tonnes of oil products.
The project also includes launching of the 3rd berth, to increase the tank farm storage capacity to 42, 000 tonnes.
Investment in the project is estimated at $ 110 million.
St. Petersburg-headquartered Baltic Fuel Company was established in 2008 to manage bunkering companies of the holding. For over 10 years, the Group’s divisions have been engaged in oil product exports, bunkering operations, provision of environmental services, etc. The company owns and operates a largest bunkering fleet in the northwest of Russia, which comprises 31 vessels. Baltic Fuel Company ranks among top 3 leaders in the market of bunkering services at the ports of St. Petersburg and Leningrad region and is one of the three leading oil trucking companies in the country’s northwest region.