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2015-07-17 00:45:00

RUSSIAN TERMINAL CANCELED

RUSSIAN TERMINAL CANCELED

Rotterdam, Europe's largest port, said on Thursday that plans to build a Russian-backed 3 million cubic meter oil storage terminal had been canceled after its Russian partner raised concerns over the project's feasibility.

The project, announced four years ago by Dutch Prime Minister Mark Rutte, was intended to store Urals crude oil and oil products and was hailed at the time as testimony to strong trade relations between the two countries.

In a statement on its website, the port said partner Shtandart TT, owned by Russian investment firm Summa Group, had wanted to reopen discussions on the schedule and quantities…

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Tags: OIL, RUSSIA, EUROPE
Chronicle:
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