On Tuesday, the RIA news agency reported that Russian state-run oil giant Rosneft will build a port for its Vostok Oil project in the Russian Arctic.
The port will have an annual capacity of 115 million tonnes of oil, where oil will be shipped to Asia via the Northern Sea Route.
Vostok Oil project unites the company’s project in the northern part of the country including the oilfields of Lodochnoye, Tagulskoye, and Suzunskoye. Other projects, such as the Rosneft’s venture with BP, the Ermak Neftegaz, are also included.
Previously on the same day, Rosneft stated that the Vostok Oil project is targeted to supply 25 million tonnes of oil in 2024, 50 million tonnes in 2027, and up to 115 million tonnes in 2030.
