Bloomberg News

Baltic Oil Port Opening Delayed to First Quarter, Transneft Says

November 29, 2011

Nov. 28 (Bloomberg) -- The start of Russia’s Ust-Luga oil terminal on the Baltic Sea will be delayed by as long as three months after “engineering problems,” said Igor Dyomin, a spokesman for OAO Transneft, Russia’s oil pipeline operator.

The country’s crude oil export schedule for the first quarter won’t include loadings from the Ust-Luga port, Interfax reported today, citing Transneft.

Transneft has been put in charge of solving the problems that have held up the opening of the Ust-Luga terminal, Dyomin said. The same contractors are working to fix their mistakes, he said.

--Editors: Torrey Clark, Alex Devine

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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