OREANDA-NEWS. February 01, 2007. Petersburg Oil Terminal, the largest refinery product outlet in St. Petersburg, plans a $150-200 million upgrade by 2010 that will allow it to launch gasoline exports, a port official said, reported the Internet-Site www.northgas.ru.

Petersburg Oil Terminal (PNT) currently loads fuel oil and diesel while Russia’s fast-growing gasoline output is shipped via the northern ports of Murmansk and Vitino or via the Baltic states.

“If our shareholders approve the expansion plan, we will be ready to start gasoline and kerosene exports in two years,” the PNT official, who declined to be named.

“We will be able to increase shipments of all light products, including diesel, and fuel oil volumes will decline.”

Many Russian refineries are being revamped to increase output of in-demand light products, while demand for fuel oil is falling.