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RTU and Ventspils nafta terminals sign cooperation agreement

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RTU and Ventspils nafta terminals sign cooperation agreement

september 13, 2013 / News

On Friday, September 13, Rector of Riga Technical University (RTU) Leonids Ribickis and Managing director of Ventspils nafta terminals (VNT) Lars Pantzlaff signed a mutual cooperation agreement in science and professional development.

VNT commits to provide internships for students of RTU in the affined fields of studies according to the curriculum. The cooperation will promote joint research activities, an innovative learning and working environment, knowledge and technology transfer, fostering development and growth for both parties.

“One of the main goals of RTU is to enhance the cooperation between business and science. Innovations and technology transfer require the interaction of higher education institutions and industry at all levels. Given that many RTU students are specializing in the fields of VNT expertise, and that the university is realizing scientific research in the said fields, it is natural to foster an even closer cooperation,” says Rector Academician Leonids Ribickis.

"Exposing students to the business environment, such as VNT, along with their academic curriculum is an important cornerstone for becoming a well rounded future professional. For us such interaction is exciting and we are confident in this cooperation between RTU, its students, and VNT. VNT is the largest transhipment company for petroleum products in the Baltic States and we have the constant ambition as to our technological base providing a wealth of opportunities to grow cooperation on the technical field," says VNT Managing Director Lars Pantzlaff.

It is planned that VNT and RTU will cooperate in research work, exchanging scientific and technical information, organizing common conferences and seminars, as well as internship opportunities. Bilateral cooperation will contribute to the realization of qualitative and specialized scientific projects, promoting the professional preparation of students for work in the fields of interest to the company.

VNT is technologically the most advanced and largest crude oil and petroleum product transhipment company in the Baltics with the total tank storage capacity of 1.2 million cubic meters. VNT provides transit services − the receipt of crude oil and petroleum products via pipelines, rail tank cars and tankers, as well as their storage and transhipment.

51% of VNT is owned by JSC Ventspils nafta (NASDAQ OMX RIGA: VNF1R), which is one of the largest groups of companies in Latvia.  JSC Ventspils nafta is the Group's parent company, which manages investments into the companies within the Group, thus facilitating the growth in the overall value of the Group and its individual companies.