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CIS GAS MONETISATION

09 – 10 April 2019   |   Moscow, Russia

Rushimcom plans to build a methanol plant in Ust-Luga

Posted by GBC on 29-01-2019

Source: Rupec

Rushimcom LLC plans to build a gas processing complex for methanol with a capacity of 1.75 million tons per year in 2023, Rupec reports.

The project involves the creation of a methanol production plant on the territory of the Alekseevskaya industrial zone, the construction of a 48-km-long product pipeline and a shipping terminal in the seaport of Ust-Luga.

It is planned that the company will produce 1.75 million tons of methanol per year. Total capital costs are estimated at 1 billion euros. The construction work is expected to begin in 2020.

To date, the company has agreed to acquire 225 hectares of land in the Kingisepp District for the needs of the project, entered into a supply agreement with OOO Gazprom Mezhregiongaz SPb for 1.7 billion cubic meters of gas per year for a period of up to 2032. The company began to develop project documentation, a license agreement conclusion is at the final stage, and technical conditions have been obtained for connecting the plant to the Gazprom gas transmission system.

The company’s website notes that in December 2018, Deputy Prime Minister Dmitry Kozak instructed the Ministry of Industry and Trade and the Ministry of Energy to provide state support to the Rushimcom project. He also asked to synchronize its implementation with the overall schedule of the program of priority gas chemical projects implemented in the Leningrad Region during 2018-2023.

Ruskhimkom was formed to implement the “Methanol Production Complex in the Leningrad Region” investment project and to further operate the enterprise. The project manager and member of the board of directors of the company is Aleksey Vertyagin, who from 2014 to 2016 was heading NIPIgazpererabotka JSC.

The capacity of the future production is estimated at 1.7 million tons of methanol per year. $ 1.5 billion will be invested in the project. The enterprise is expected to be commissioned in 2023. In addition to methanol production, it is also planned to launch a terminal for trans-shipment in the Baltics.

A presentation with a detailed description of the project and a plan for its implementation has been published on the company’s website.

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