Russia’s Summa private firm wins tender to build oil terminal in Rotterdam

Summa Group, a Russian diversified private holding company, has won a tender to construct an oil terminal in the Dutch port of Rotterdam, a Kremlin source said on Wednesday.

“Summa and the Dutch port of Rotterdam will sign a general agreement on the construction and operation of the oil terminal,” the source said.

This project will help Summa, which invests in the port logistics, engineering, construction, telecommunications, oil and gas sectors, to implement “an open terminal” concept and turn into a major European logistics hub for the Russian Urals oil blend.

This project will create a competitive chain of Russian oil shipments by shuttle tankers to deliver crude to a floating oil pipeline.

Summa confirmed the information to the Prime news agency, but declined to give details, saying that they would be published on Thursday after signing the contract.

As earlier reported, Summa was bidding together with large oil trader Vitol.

Viktor Olersky, Russian Deputy Transport Minister, earlier said that Global Ports Investments PLC, part of N-Trans Group, was bidding jointly with the Dutch company Vopak.

N-Trans did not comment.

Leave a comment