Yuri Vitrenko, the acting CEO of Ukraine’s national oil company Naftogaz of Ukraine, says that the company is considering building a tank farm to store Ukraine’s strategic oil reserves at its Pivdennyi Sea Oil Terminal in Odesa.
The Pivdenny terminal currently has a storage capacity of 200,000 m3, and a throughput capacity of 14.5 million tpa. It is used for the receipt, shipment and transport of oil through Ukraine’s main oil pipelines. It can accommodate vessels with a draught of up to 13.8 m and up to 150,000 DWT. Ukraine does not currently have a strategic oil reserve and the terminal is an ideal site.
The first stage of creating a strategic oil reserve will be the construction of up to four tanks will a total capacity of 120,000 tonnes. Ukraine’s president and prime minister support the initiative, according to Naftogaz.
‘The terminal where we are now is a critical element of Ukraine’s oil transportation system with huge potential for development. We are going to build it to increase the reliability of Ukraine’s oil supply – this is an extremely important platform for creating a strategic oil reserve. Such a stock is necessary in accordance with European rules and given that we are actually at war with Russia, and we still do not have a strategic stock of oil and oil products,’ Vitrenko said on a visit to the terminal.