Russia

LUKoil to make investment decision on gas chemical complex in Budennovsk after gas analysis

lukoil_kaskaLUKoil plans to make a final investment decision on construction of the gas chemical complex in Budennovsk after analysis of gas extracted on Kuvykin field in the Caspian Sea, reported Interfax quoting LUKoil President Vagit Alekperov.
“In the Caspian Sea we have different fields with different content of ethanol. We would like to launch the first gas refining plant with the capacity up to 3 billion cub.m. to perform a deep analysis of the Kuvykin gas condensate field and then make a final investment decision on the gas composition. Chemistry depends on the gas composition, if liquid fractions are enough for its economic refining,” he explained.
Alekperov reminded that the companies will have to implement the investment decision to the amount over $3 billion. “This is actually construction of a new plant and for this reason we are very careful about that. We will not make a decision until the wells are drilled and gas quality is established,” http://rusenergy.com quoted Alekperov as saying.