Russia and China to Build Oil Shipping Complex Worth $686 Million

On Monday, the "Rus Kongress" fund indicated that the "United Oil and Gas Chemical" company from Russia and the Chinese industrial development company "Shan Yuan" have agreed to jointly invest 5 billion yuan ($686 million) to build an oil shipping complex in eastern Russia. According to Rus Kongress, there will be five large infrastructure units, including a terminal capable of storing crude oil, oil mixtures, and gas condensates, with a loading capacity of up to 5.8 million tons annually. The plans also include the possibility of creating a repository with vertical and horizontal tanks to receive, store, and distribute oil products and fuel oil, with a capacity of up to 1 million tons per year. Additionally, there will be a gas complex for shipping liquefied petroleum gas, which will be able to handle up to 650,000 tons of products annually. Rus Kongress noted that the financing will be gathered from Russian and Chinese financial institutions.