The Chairman of the Board Igor Esin took part in the St. Petersburg International Economic Forum (SPIEF), where he attended the signing of the contract on construction of a methanol plant in Ust-Luga as an honored guest.
During its 20 years of existence the Forum has become the world's leading platform for communication of business representatives and discussion of key economic issues facing Russia, emerging markets and world as a whole. SPIEF is also an effective platform for business communications, the place where many contracts are signed.
Within the Forum, on May 25, 2018 Baltic Gas Chemical Company (BGCC) concluded agreements with Mitsubishi Heavy Industries Engineering (MHI) and Haldor Topsoe AS for the design, construction and operation of a methanol plant in Ust-Luga. The Chairman of the Board Igor Esin attended the signing of the agreement as an honored guest.
The capacity of the future production will be 1.7 million tons of methanol per year. According to current estimates, 1.5 billion USD will be invested in the project. The plant will consume 1.6 billion м³ of natural gas per year using Kohtla-Järve – Leningrad gas pipeline.
Earlier, a pre-FEED contract between NIIK and BGCC has been concluded. Currently, NIIK together with Baltic Gas Chemical Company and Mitsubishi Heavy Industries Engineering are collecting initial data for FEED package development, discussing the location of the main unit and work schedule.
For the construction of the facility, Baltic Gas Chemical Company acquired the assets of the Baltic Urea Plant owned by IСT Holding Ltd. The rights have been acquired for the land plots, gas pipeline, deep-sea terminal and transport corridor as well as the project documentation developed by NIIK and ISM earlier.
Thus, a new project for the methanol production facility will be implemented on the site that was previously planned for the construction of Baltic Urea Plant.