Russian Transport Minister: oil transit via Ventspils Port unlikely to resume

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Jul 2009

There is not much hope that oil transit flows to Ventspils could resume, as Russian Transport Minister and co-chairman of the Latvia-Russia intergovernmental commission, Igor Levitin said in an interview to the newspaper Neatkariga. "Russia has made the decision, and the work has already begun, to move the transit flows of oil and oil products via the Ustlug Port. This year the first tanker will be loaded with oil products at the Ustlug Port. As for Ventspils – sometime in the past handling Russian cargo in Ventspils became disadvantageous. We offered our proposals, but we could not wait too long. I believe that this question is not as urgent as it used to be in the past," said Levitin. Explaining the development of ports in northwest Russia, Levitin points out that for a long time Russia could not offer adequate cargo handling conditions that could be comparable to those in Latvia and Ukraine, reports LETA. "First we had to develop alternative projects, so the business could choose where cargo handling is better, more convenient, less expensive," explained Levitin. "We do know that the Latvian transport infrastructure is competitive. We understand that business will choose the less expensive routes at a time of crisis." Levitin also states in the interview that Russia has offered the European Union a new transport corridor, connecting the EU with China. Whether Latvia is able to join the project depends on border infrastructure and competitiveness of the Latvian transport infrastructure, he said.

Source: The Baltic Course