Investments, Latvia, Port, Transport

VNT intends to blend motor gasoline with liquid butane (butanisation) to obtaining the gasoline blend which is in demand on several world markets, especially in the US, reports BNS.

If this plan is implemented, VNT will be the only company in the Baltic states providing such service, and it could improve competitiveness not only of the terminal itself or Ventspils Port, but also the total competitiveness of the entire Latvian transit corridor, and increase the flow of transit cargo via Latvia.

"In order to provide the planned new service, the terminal needs to build special blending equipment. If all required authorizations are obtained, the maximum amount of butane to be added to gasoline could reach 60,000 tones per year. The new equipment and its technologies fully comply with the latest European standards and norms both from safety and environmental aspects," VNT said in the statement.

In accordance with to the long-term development strategy of the company, VNT will continue to strengthen its positions as the most advanced complex of crude oil and petroleum product transshipment in the Baltic region, by planning its operations based on the same principles as applied by other companies of Vitol Group, a shareholder of VNT, around the world, said the oil terminal.

VNT is a subsidiary of Ventspils Nafta holding company. Ventspils Nafta holds 51% in VNT and 49% belong to Euromin Holdings Limited, a company of the Vitol Group.