11 June 2013 14:33 [Source: ICIS news]
LONDON (ICIS)--Russian oil products terminal Ust Luga will ship an estimated 150,000-180,000 tonnes of naphtha in June, after successfully inaugurating naphtha shipments from its facility on 21 May, a company spokesperson said on Tuesday.
"Naphtha began shipping on May 21. The figure for June is an estimate; however, we expect it to be slightly higher," the spokesperson told ICIS.
A vast majority of the naphtha volumes from the terminal is likely to end up in northwest Europe at the Amsterdam-Rotterdam-Antwerp (ARA) hub.
"We are restricted to smaller size vessels, [that is] medium range, which cannot go long haul, which means they end up in NWE [northwest Europe]," the spokesperson said.
The oil products terminal, which began operations in 2011, is operated by Swiss commodity trader Gunvor, which has a 100% stake in the project.
The company spokesperson confirmed that naphtha volumes from the terminal are expected to increase next month. "We do expect higher volumes for July," it said.
Naphtha is used extensively as a gasoline blending component and in the petrochemical production of olefins.
($1 = €0.75)
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