Rosneft might become main investor in Murmansk Transport Hub - paper
MOSCOW. Dec 12 (Interfax) - Rosneft , Russia's biggest oil company, might become the main investor in the Murmansk Transport Hub (MTH) project by buying shares from some of the other shareholders, business daily Vedomosti reported on Thursday, citing sources.
The MTH project is being carried out through OJSC Murmansk Transport Hub Management Company (MTH MC). Siberian Coal Energy Company (SUEK) currently owns 40% of MTH MC through the Murmansk Commercial Seaport , Russian Railways (RZD) holds 25%, Rosmorport and Rosneft each own 15%, and the government of Murmansk Region holds 5%.
The paper said Rosneft plans to buy out the stakes of SUEK, Rosmorport and the regional administration. RZD will remain in the project.
A final decision on the state oil major's plans to increase its stake in MTH will be made after the scale of production in the Kara Sea is determined. Rosneft plans to develop these offshore fields with ExxonMobil.
MTH MC was set up in 2007 to build additional cargo handling capacity for 70 million tonnes. The project calls for the construction of container, oil and coal terminals, as well as capacity to handle fertilizer, and the development of approach lines to the port, according to the transportation development strategy to 2030. Investment in the project is projected at 152.1 billion rubles, including 62.7 billion rubles from the government and 89.3 billion rubles from private investors. The project has not yet been approved by state environmental review office Glavgosexpertiza. Additional capacity at the port is supposed to be available by 2020.
Rosneft already has several assets at the Murmansk port - the Belokamenka floating oil reservoir and the Polyarny Terminal, located at the Plant 35 of the United Shipbuilding Corporation (USC).
The company plans to build another terminal at the port on property leased from Arktikmorneftegazrazvedka, Deputy Transport Minister Viktor Olersky told Interfax.
Rosneft also signed an agreement with the Murmansk regional administration in the summer of 2013 on building facilities for production, handling and regasification of liquefied natural gas.
