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
- Mitsubishi Heavy Industries Compressor acquires Swiss rotating equipment maintenance company AST Turbo AG
- Digital Exclusive: Evolving pressure relief valve designs protect LNG facilities
- Qatar’s Ras Laffan LNG hub hit by missile attack, ‘extensive damage’ reported
- JGC-Hyundai JV awarded EPC contract for major low-carbon LNG plant project in Papua New Guinea
- Iran attacks wipe out 17% of Qatar’s LNG capacity for up to five years
Comments