PRESS: Gazprom mulls $14 bln gas chemical complex on Yamal - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

PRESS: Gazprom mulls $14 bln gas chemical complex on Yamal

MOSCOW, Mar 2 (PRIME) -- Russian gas giant Gazprom is currently appraising construction of polyethylene production on the base of the Bovanenkovsky cluster of fields on the Yamal Peninsula, business daily Vedomosti reported Monday citing documents of the Russian Direct Investment Fund (RDIF).

The cost is preliminarily estimated at U.S. $14.1 billion. At the end of 2019, the project was discussed with Saudi ArabiaТs SABIC and AzerbaijanТs SOCAR, sources said.

The project encompasses construction of two large plants Ц gas processing and gas chemical. The gas processing facility with a capacity of 40 billion cubic meters of gas is estimated at $4.3 billion, while the gas chemical facility with a capacity of 2.1 million tonnes of polyethylene at $9.8 billion. The figures were calculated based on a similar complex with a smaller capacity that SOCAR and GermanyТs Linde AG plan to build near Baku, Vedomosti said referring to the RDIFТs documents.

The bulk of investments of $9.9 billion is expected to be attracted in the form of debt financing, while the remaining funds will be covered by investors, the daily said.

УThe moment of making an investment decision is not yet close, but the project has been worked out in detail, and the chances of its implementation are high,Ф a federal government official told the daily.

A representative of the RDIF said the fund believes the oil and gas chemical direction is promising for investments and is considering several projects in this sphere, but declined to comment on certain projects. Gazprom, SABIC, and SOCAR did not comment.

The Bovanenkovsky cluster comprises the Bovanenkovskoye, Kharasaveiskoye, and Kruzenshternskoye fields.


02.03.2020 09:37
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 80.0937 -0.1752 14 jul
USD 70.7479 -0.4819 14 jul
Stock Market Indices
1D 1W 1M 1Y
rtsi 1234.50 -0.90 18:50 13 jul
micex 2766.79 -1.22 18:50 13 jul
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 196.75 -2.09 19:13 13 jul
lkoh 4967.50 -2.56 19:13 13 jul
rosn 357.15 -1.88 19:13 13 jul
sber 210.08 -1.04 19:13 13 jul
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 80.1250 -0.0800 14:59 13 jul
USDTD 70.6050 -0.0625 17:44 13 jul