Russian, Chinese companies to jointly invest 5 bn yuan building transshipment oil complex in Russia to facilitate oil exports to China

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Russia’s United Oil- and Gas-Chemical Co. and China’s Xuan Yuan Industrial Development have agreed to jointly invest 5 billion yuan ($686 million) to build a transshipment oil complex in Russia’s far east, the Roscongress fund said, adding that the funds will be raised at Russian and Chinese financial institutions.

The complex will be set up in Russia’s Jewish Autonomous Region near a railway bridge across the Amur River linking the Russian town of Nizhneleninskoye to China’s Tongjiang.

There will be five large infrastructure units, including a terminal with a capacity to store, blend and load up to 5.8 million metric tonnes per year of crude oil and oil and gas condensate mixtures, a depot with tanks for receiving, storing and dispensing up to 1 million tonnes a year of petroleum products and fuel oil; as well as a gas-filling complex for transshipment of liquefied petroleum gas, which would be able to handle up to 650,000 tons of product annually.