Petersburg Oil Terminal (POT) in St Petersburg, Russia, has been granted permission by the city authorities to build a new RUB 5 billion (€57.7 million) transshipment terminal complex for oil products.
The new complex will be built on the site of an old oil storage depot built in the 1960s. the depot covers an area of 11 hectares. POT will dismantle the old, single-walled tanks before beginning construction of the new complex in Q4 2021. The new complex will include modern, double-walled tanks, a discharge rack, recuperators and steam traps. POT has already signed a contract with RM for supply of metal structures, with the first batch due in October 2021.
‘This is the most important construction site for the terminal and a strategic investment project for the city. Its implementation will allow us to expand the range of transshipped oil products and pursue a more flexible policy, which is especially important in the volatile oil market. At the same time, we plan to implement the project in such a way that it would be possible to promptly make changes, focussing on changing conditions,’ says Mikhail Skigin, POT chairman.
In March 2021, POT and the St Petersburg government entered into an agreement on strategic investment projects. POT was recognised as a strategic investor in the city’s economy, and the redevelopment of the old oil depot has been recognised as a strategic investment project for the city. Skigin says that the redeveloped transshipment terminal will bring in high-tech tech jobs, increase revenues to the city and improve the environmental safety of the port.
In June 2021, POT commissioned a new 40,000 m3 tank and Skigin said that it would allow work to begin on the new complex, as it would mean there would be no reduction in transshipment volumes during demolition and construction work.