Togliattyazot says bearing heavy losses on pipeline closure

MOSCOW, Jun 19 (PRIME) -- Russian ammonia producer Togliattyazot incurs colossal losses due to the closure of the Tolyatti–Odessa ammonia pipeline, a spokesperson told PRIME on Monday.

"Togliattyazot is bearing colossal losses due to the closure of ammonia pipeline Tolyatti–Odessa. The company is at the breakeven level now. Togliattyazot has seven ammonia units, three are working. These conditions are absolutely unfitting for business," the representative said.

The Russian part of the pipeline is safe and in use, while the Ukrainian part was damaged by a blast earlier in June.

According to the spokesperson, the launch and attainment of target capacity by a new ammonia terminal in the port of Taman would solve the pipeline blockage problem.

The first stage of the terminal is to be launched at the end of 2023.

End