“FAS approved the purchase of “Transneft” 25%+1 share of the port of Ust-Luga

– The Federal Antimonopoly service (FAS) of Russia approved the petition “Transneft-Baltic” (structure “Transneft” ) on the acquisition of 25% + 1 voting shares in the authorized capital of JSC “Ust-Luga oil” (Leningrad region, commercial seaport), spoken in the service message.

Advisor to the President of Transneft press Secretary Igor Demin said the “Interfax that the monopoly has a share in “Neva pipeline company”, which with the port share a common infrastructure. However, he noted that “we are only at the beginning of the transaction.”

Plans for the acquisition of “Transneft” share in Ust-Luga is connected with the fact that Russian refineries emerge from the period of reconstruction, and the market will be further raised to approximately 40 million tons of diesel fuel, and the company is to ensure the handling of these volumes, said I. Demin. “With the help of the package in Ust-Luga of the package we will be affecting the specialization of port near their objective,” he explained.

According to “SPARK-Interfax”, 74% of JSC “Ust-Luga oil” belongs to “Toling”, 26% – Cyprus Capefar Limited (controlled by Gunvor). In “Transneft” did not specify who the company plans to buy a stake in the port.

The port of Ust-Luga is the end point of the Baltic pipeline system-2 (BPS-2). This year the port plans to cross the 31.7 million tons of oil.

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