Rosneft is working on a project for bunkering vessels in the Spanish port of Algeciras after the Russian Hispanic Business Forum led by the Spanish Minister Alvaro Nadal and a meeting between Prime Minister Dmitry Medvedev and the representatives of the Spanish business, who discussed about the entering of the oil giant into the Spanish port and establish a join bunkering company.
The Russian interest in bunkering in Algeciras is not surprising considering its facilities.
The strategic location of the Bay of Algeciras Port, adjacent to the Strait of Gibraltar, where more than 100,000 vessels sail annually , as well as the natural features of the Bay of Algeciras, with more than 1,300 hectares suitable for mooring and exceptional shelter conditions, make it an exceptional enclave for bunkering operations in anchoring and docking.
Moreover, important energy shipping project is the join operations of Lukoil and the Spanish Meroil oil terminal in the port of Barcelona, which has estimated worth of 50 million USD.
The most significant projects between Russian and Spanish companies are the joint venture between Alliance Oil and Repsol for exploration and all-year production of oil and gas in the Khanty-Mansiysk Autonomous District, which is worth 840 million USD, as well as deep vacuum gasoil processing complex on the Lukoil-Volgogradneftepererabotka site, which is in construction by the Spanish company Tekhnikas Reunidas and has worth of 1.4 billion USD.
