VEB’s board voted to affirm the issuance of a USD 545 million loan to Rosneftebunker for exploring and developing the Ust-Luga venture. The loan will mature in 8 years, according to the chief executive officer of VEB Mr. Vladimir Dmitriyev.

Rosneftebunker is planning to direct the funds to the development of infrastructure at the Leningrad oblast port of Ust-Luga on the Baltic Sea.