Norterminal takes lease of 100-ha area for construction of oil & gas terminal
Norterminal has signed the contract for long term lease of some 100 hectares area along the coastline near Kirkenes airport (Norway) for construction of an oil and gas terminal, the company states. Norterminal plans to invest between NOK 2 to 4 billion (€270 to 539 million) in the terminal aimed for reloading and storage of up to 700,000 cbm of oil products. The annual throughput capacity will be 20 million tons. The construction shall be completed and operational by 2016-2017.
Norterminal specializes in construction and operation of oil and gas terminals in the northern part of Norway with a focus on export of hydrocarbons from the Arctic fields.