EMEA News
TransBaltic Oil Looks to Boost Presence in the Baltics, Expand into Bunker Supply
Viktor Krasnyansky, Chairman of the Board for TransBaltic OIL, Ltd. (TransBaltic) says by 2020 the company plans to boost its presence in the Baltic states by 30 percent and expand its product list in the region to include bunker fuel, Belarusian media reports.
"The market of the Baltic countries is very promising. It provides us with good opportunities for increasing supplies," said Krasnyansky during a September 24 conference on the Belarusian oil and gas market.
Currently TransBaltic is said to provide about 8 percent of Latvia's diesel imports, 21 percent of Lithuania's and 1 percent of Estonia's.
In addition to adding bunker fuel to its list of products offered in the Baltic states, TransBaltic is said to be planning to move into motor gasoline, paving bitumen, and Jet-A1 fuel sales.
Additionally, TransBaltic Oil is reported to be planning to increase its wholesale trade of oil products from Lithuanian petroleum storage depots in order to continue providing jet fuel aircraft fuelling operations Riga and Vilnius' airports.
In July, it was reported that Norway's Statoil ASA (Statoil) and Lithuania's state-owned Lietuvos Energija were planning to develop a small-scale liquefied natural gas (LNG) supply operation at Klaipėda for distributing LNG by tankers around the Baltic Sea.
