Board of Directors approves Gazprom’s activities within Gas Chemistry and Gas Processing Strategy
The Board of Directors approved Gazprom's activities within the Company's Development Strategy for Gas Chemical and Gas Processing Facilities.
The meeting noted that increased recovery of valuable components from gas (ethane, propane, butane and helium) and their subsequent use as feedstock for output of gas chemical products with high added value was a paramount area of these activities.
At present, the Company is involved in the following ambitious gas chemical and gas processing projects.
The Novy Urengoy Gas Chemical Complex construction is entering its final phase. The Investment Rationale for the Orenburg Gas Chemical Complex development until 2030 is in progress.
It is planned to complete in 2013 the Investment Rationale for gas processing and gas chemical facilities based on valuable gas components from the Valanzhinian deposits of Northern Tyumen Regions (TransValGaz project) and the Declaration of Intent to invest in building a polyethylene production complex in the Astrakhan Region.
Gazprom pays special attention to creating new gas processing and gas chemical centers based on Eastern Siberian and Far Eastern fields, including helium extraction, storage and transportation.
In October 2012 the investment decision was taken for the Investment Rationale for the Chayandinskoye field pre-development, gas transmission and processing providing for construction of gas processing and helium production facilities in Belogorsk. It was noted that the formation of a gas production center in the Republic of Sakha (Yakutia) based on the Chayandinskoye field would trigger a large-scale gas processing development in Eastern Russia.
In addition, this work will create the necessary conditions for the industry companies to invest in the gas chemical facilities construction.
This year the Investment Rationale will be completed for the comprehensive project for gas supply to southern Irkutsk Region, including the creation of gas processing and gas chemical facilities. Under this document a possibility for setting up the Sayan gas processing plant is being considered.
The diversification of natural gas and final products markets through setting up of new LNG capacities is viewed by Gazprom as the Strategy's key areas.
In this context the meeting considered the project for building an LNG plant near Vladivostok (Vladivostok LNG project). The Investment Rationale for this project is ready, the document is under expert review in Gazprom. As part of the Vladivostok LNG project a liquefied natural gas (LNG) plant will be constructed on the Lomonosov Peninsula (Perevoznaya Bay). The plant will have several process trains and an annual capacity of no less than 10 million tons of LNG. The first train is scheduled for commissioning in 2018.
In line with the Strategy the Company also aims to develop gas condensate processing facilities to produce fuels complying with Euro 5 standards. The expansion of Gazprom Neftekhim Salavat capacities will allow for efficient processing of liquid hydrocarbons coming from the Nadym-Pur-Taz region in increasing amounts.
The meeting noted that the course of Gazprom's gas processing and gas chemical facilities development was in line with the Company's strategic goals and had to ensure a high level of profitability and return on investments, as well as business transparency through a clear specialization and concentration of processing assets.
Gazprom's Development Strategy for Gas Chemical and Gas Processing Facilities was approved by the Board of Directors decision of March 26, 2008.
Gazprom Group processes gas at the Astrakhan, Orenburg, Sosnogorsk Gas Processing Plants, the Orenburg Helium Plant, the Surgut Condensate Stabilization Plant and the Urengoy Condensate Treatment Plant.