RussNeft, Lukoil can set up JV on basis of Lokosovsky gas refinery

MOSCOW, Aug 16 (PRIME) -- Russian oil companies RussNeft and Lukoil are discussing establishment of a joint venture to process associated gas at the Lokosovsky gas refinery, a source close to the negotiations told PRIME on Monday.

“RussNeft and Lukoil are discussing an option of creation of a joint venture on the basis of the Lokosovsky gas refinery to upgrade the existing facilities and infrastructure for associated gas processing,” the person said.

“An economic analysis of the project has shown that creation of an integrated platform for gas processing can diversify the historically developed gas supply scheme in the region, improve the economy, and the project’s metrics, and substantially reduce the price risks,” the source added.

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