BAKU, Azerbaijan, July 23
By Leman Zeynalova – Trend:
Ukrtransnafta joint-stock company has taken a number of measures as part of preparations for the project envisaging transshipment of oil products from the Yuzhny offshore oil terminal, Ukrainian energy ministry told Trend.
The ministry said this project is a part of modernization of the Yuzhny terminal. Moreover, the company has worked out the project’s feasibility study and ensured equipment layout. The project underwent some changes amid the new market situation.
“The project envisages modernization of facilities at Yuzhny terminal to have in place technical capability for transshipment of up to 1 million tons of light oil projects per year from the offshore to road transport. Currently, project documentation is nearing completion,” said the ministry.
Yuzhny terminal resumed its operation on March 12, 2020.
The International Energy Agency (IEA) notes that Ukraine is reported to have only small stocks of oil (exact levels are a state secret), and there is no emergency oil supply legislation in place that would regulate the use of strategic oil stocks in the case of supply disruptions. “The country would benefit from gradually building up oil stock reserves to the equivalent of at least 90 days of net imports or 61 days of inland consumption by 2025. This level is similar to the oil stockholding commitments of IEA member countries, except that the IEA has a collective action mechanism.”
---
Follow the author on Twitter: @Lyaman_Zeyn