Gazprom to be allowed to sell natural gas at unregulated wholesale prices to the companies producing methanol for export. The government resolution published at the official website states that the new rules will take effect in 2020. Deregulation of gas prices for methanol producers should boost exports of competitive Russian products and raise investment attractiveness of projects in the sector.
At the moment there are several methanol producing complexes under construction in Russia that plan to use natural gas extracted by Gazprom and its subsidiaries in their production.
Earlier this year, the Russian Direct Investment Fund, Japanese Marubeni Corporation, Baltic Gas Chemical Company and Invasta Capital signed an agreement on the construction of a methanol production complex in Ust-Luga. The plant’s capacity will amount to 1.7 million tons per year.
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