Russia to finance Gazprom's Ust-Luga project
6/7/2019
Russia will use the National Wealth Fund to finance Gazprom's new chemical and liquefied natural gas project in the Baltic port of Ust-Luga, Deputy Finance Minister Andrei Ivanov said.
Gazprom said the project would require equipment purchases of at least 900 billion roubles ($13.87 billion).
Gazprom had initially planned to build only an LNG plant in the area with Royal Dutch Shell. It changed its mind earlier this year and redesigned the project to add a chemical plant, prompting Shell to leave the project. ($1 = 64.8674 roubles) (Reporting by Dmitry Zhdannikov Editing by Maria Kiselyova and Jon Boyle)
Sign up to Receive Our Newsletter
- Aramco signs $11-B Jafurah midstream deal with international consortium led by Global Infrastructure Partners
- TotalEnergies and CMA CGM to launch LNG bunkering logistics JV to accelerate maritime decarbonization
- Digital Feature: The growing need for an equipment lifecycle strategy
- Iraq PM inaugurates gas projects that aid plan to stop flaring
- Digital Exclusive: Turbomachinery: The backbone of cryogenic gas processing
Comments