Russian gas giant Gazprom plans to build an around U.S. $ 20 billion gas refining and chemical complex at the Baltic Sea with a capacity of up to 45 billion cubic meters of gas, business daily Vedomosti reported on Monday.
The company may team up with Rusgazdobycha, previously owned by Arkady Rotenberg, Vedomosti said citing sources obtaining information from managers of Rusgazdobycha and a top manager of one of Gazprom’s contractors.
On April 22, Gazprom representative confirmed that the project exists.
The complex may be constructed out of St. Petersburg near the port of Ust-Luga. The refined methane will be partly transferred to the local Baltic LNG (liquefied natural gas) plant for liquefaction and partly exported via the Nord Stream-2 export pipeline.
The facility may also produce around 1.5 million tonnes of polyethylene for sales in Europe.
