Gazprom and Caspian Innovation Company sign Memorandum of Cooperation
Alexey Miller, Chairman of the Management Committee of Gazprom, and Sergey Shtepa, CEO of Caspian Innovation Company, signed today at the St. Petersburg International Economic Forum 2017 a Memorandum of Cooperation.
The document envisages a feasibility study for a petrochemical complex in the Astrakhan Region for manufacturing polymeric products from ethane that is planned to be supplied by Gazprom's Astrakhan gas processing plant after its low-temperature gas separation units undergo renovations.
Pursuant to the Memorandum, Caspian Innovation Company and Gazprom will conduct investment feasibility studies for the construction of the petrochemical complex and the renovation of Astrakhan GPP's low-temperature gas separation units, respectively. Based on the results of the studies, the parties will make a decision on the further implementation of the project.