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    TNK-BP TO BUILD OIL TERMINAL IN GULF OF FINLAND

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    MOSCOW, February 9, 2004. /RIA Novosti correspondent/ - Russian-British oil company TNK-BP intends to build a $175-million sea terminal to transport oil and petrochemicals with an annual capacity of 12 million tons in the Gulf of Finland, the Leningrad region. Recently the region's government has approved of the company's application for the project, RIA Novosti learned from the government. Construction is scheduled to start in spring next year and to be completed by the end of 2006.

    The terminal will be situated in the Luzhskaya bay west of St.Petersburg. It will be designed to export oil, fuel oil and diesel fuel.

    The company refused to comment on the project.

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