Russia has to expand ports: minister
Russia needs to expand its port facilities to meet growing demand from oil, coal and other exporters, Deputy Transport Minister Viktor Olersky says.
The world’s top oil producer and fifth largest coal exporter ships a large proportion of its energy resources to foreign buyers via neighbouring countries due to domestic port limitations.
- The market is demanding more terminals in light of increasing demand on coal and oil products. We currently export what we can’t ship by rail to the Baltic states and Ukraine, Mr Olersky said, web site Hellenic Shipping News writes, citing Reuters.
Demand for commodities is increasing as the global economy recovers, adding urgency to Russian port development plans that were delayed during the downturn.
Olersky said that even when the port in Ust Luga – which is slated to become the country’s largest oil products terminal – and the development of the port in Murmansk are completed, Russia will still not have sufficient facilities to meet demand.
More than 150 billion RUB (3.4 billion EUR) will be invested in the development of the Murmansk Port on the backdrop of the grand development of the Shtokman field in the Barents Sea.
