SIBUR sold the terminal in Ust-Luga to a consortium of investors

Moscow. November 3. A consortium of investors comprising the Russian direct investment Fund (RDIF) and leading international investors, has closed a deal to invest in the terminal of SIBUR for transshipment of liquefied petroleum gas (LPG) and light oil products in sea trading port Ust-Luga, the company said.

“The consortium of investors, including Gazprombank and the group of foreign investors closed the deal on acquisition of the terminal of SIBUR, said Gazprombank.

“The deal was completely financed at the expense of investors. In the future, the consortium expects to refinance a portion of the invested funds by debt financing. The consortium’s investment will also go to Finance the expansion of terminal capacity,” says the Gazprombank.

“As a result of the transaction, the consortium gained full control over one of the most modern port and terminal infrastructure in the Baltic region”, – emphasizes the “SIBUR”.

According to the agreement, SIBUR will be the operator of the terminal and will ensure capacity utilization of the complex of liquefied hydrocarbon gases under long-term contract. To ensure full loading of the terminal light oil signed long-term contracts with market participants handling. GPB notifies that refers to “Russian and international companies”.

Consortium partners plan to continue to invest in the development of the terminal. Currently already developed and approved a project to increase the capacity of the terminal and expansion of the railway infrastructure. The project involves increasing the capacity of the LPG transshipment from 1.5 to 2.4 million tons per year, the increase in transshipment of light oil products with 2.5 to 2.8 million tonnes per year.