Varandey terminal boosted profits
The company Varandey Terminal, which operated Lukoil’s port in Varandey on the coast of the Pechora Sea, in 2009 boosted net profits almost 14 times year-on-year.
While the profits of the terminal in 2008 was 110 million RUB, the profits in 2009 increased to 1,5 billion RUB, Oilru.com reports. The company which was established in 2004 operates the Varandey oil terminal north in the Nenets Autonomous Okrug. The terminal primarily serves the Yuzhno-Khilchuyu field. The terminal is located 23 km off the coast and is connected with coastal installations and nearby oil fields with pipelines. Annual terminal capacity is 12 million tons.
