Ventspils nafta                                           09.02.2005.



Ventspils Nafta Working Group to Tie-In Investor in the Area of Transit 





The Council of the joint stock company Ventspils Nafta consented on 

February 4, 2005 to initiate a working group for tying in a possible 

and in connection with the necessity of achieving the renewal of 

crude oil flow by pipeline to Ventspils. This intention has been 

included into action plans of Ventspils Nafta and approved by its 

shareholders’ meetings since 2003. The joint stock company 

Ventspils Nafta has done a lot over the last two years to 

renew the transportation of 

crude oil by pipeline to the crude oil and petroleum products’ 

transhipment terminal that belongs to Ventspils Nafta at 

the port of Ventspils by  holding various meetings on the 

level of business contacts and negotiations with respective 

Russian authority officers; by involving Latvian state 

institutions as well as using any possibilities given 

to Latvia by EU-membership; and by providing explanations 

of the Ventspils Nafta management about the situation to 

other various international audiences.



Unfortunately, the transportation of crude oil by pipeline to 

Ventspils as solely and without any economic feasibility shut 

down by Russia has never been renewed. Therefore, it was 

decided to update this issue on the level of the Council 

of Ventspils Nafta by anticipating that the working group 

will focus its work mainly on two directions i.e. supporting 

an active dialog with the respective institutions and Russian 

authorities for tying-in a strategic investor to Ventspils Nafta 

holding’s business in the area of crude oil and petroleum 

products transit as well as supporting further close 

co-operation with Latvian state institutions by speeding 

the consideration of possibilities of renewing the 

transportation of crude oil by pipeline to Ventspils.



The working group of Ventspils Nafta includes both state 

and private shareholders’ representatives as well as 

the chairperson of the executive board of Ventspils Nafta. 

The working group is represented by the following people:- 

Mamerts Vaivads, 

Jānis Blaževičs, 

Vladimirs Solomatins, 

Uldis Pumpurs, 

Voldemārs Strīķis, 

Eižens Cepurnieks, 

Olga Pētersone.





JSC Ventspils nafta

For information -

Gundega Varpa,

7229793;

gundega.varpa@vnafta.lv