About past, present and future of Ukraine

Main Business — Plan to build Ukraine's strategic oil reserve in Yuzhny Port (Odessa)

Business

Plan to build Ukraine's strategic oil reserve in Yuzhny Port (Odessa)

27 Aug, 2021
198
Plan to build Ukraine's strategic oil reserve in Yuzhny Port (Odessa)

Share this article


Naftogaz Ukraine is studying the issue of building a tank farm for storing strategic reserves of oil and petroleum products at the site of the Yuzhny maritime oil terminal (Odessa region).


The acting CEO of Naftogaz Yuriy Vitrenko spoke about it during his trip to the site on 19 August.

“The terminal where we are now is a critical element of the oil transmission system of Ukraine with a huge potential for development. We intend to develop it to boost the reliability of supplying Ukraine with oil. This is an extremely important platform for creating a strategic oil reserve,”

Yuriy Vitrenko, CEO of Naftogaz

At the same time, Vitrenko said that the strategic oil reserve is necessary both in accordance with European rules and in view of the fact that Ukraine is actually in a state of war with Russia, and still does not have an oil and oil products strategic reserve.

According to the head of Naftogaz, at the first stage it is about the construction of a reservoir for reserves with a capacity of about 120,000 tonnes at the Yuzhny maritime oil terminal site. In general, the first stage of the project may include the construction of up to four tanks.
Yuzhny maritime oil terminal is connected to the Druzhba oil trunk pipeline system near the city of Brody (Lviv region) through the Odessa-Brody pipeline with a length of 674 km and an annual capacity of 9 million tonnes. It was launched in 2001.


The Odessa Journal

The Odessa Journal

more articles

Top article

The Ministry of Defense has signed a contract for the construction of a service center for repairing drones in Ukraine
War

The Ministry of Defense has signed a contract ...

Dmytro Kuleba: Ukraine and Croatia have agreed to use Croatian ports for exporting Ukrainian grain
Business

Dmytro Kuleba: Ukraine and Croatia have agree ...

New sanctions: Defence industry, political parties and individuals linked to oligarchs
Business

New sanctions: Defence industry, political pa ...

Volodymyr Zelensky: We are preparing for the next Ramstein meeting, we expect solidly grounded decisions to meet the prospects on the battlefield
War

Volodymyr Zelensky: We are preparing for the ...