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14 May, 2008 17:21

Putin opens oil export terminal on Baltic

Vladimir Putin has opened a new terminal for the shipment of light-oil products in the Baltic port of Primorsk. The new terminal has a capacity of over 7 million tonnes of oil products a year and will provide Russia with more much-needed export capacity.

Previously, much of Russia's oil was exported via Baltic state ports.

Attending Wednesday's opening ceremony, Prime Minister Putin said the Primorsk terminal was a vital addition to the industry.

“Projects like this drive our oil companies and refineries to modernise production in order to export processed products rather than just raw materials,” said Putin. "Adding the value here will allow us to create more jobs.