The project for the natural gas processing and liquefaction complex near the settlement of Ust-Luga is moving forward, announced multinational energy corporation Gazprom.
The creation of a large-scale complex that will process ethane-containing gas and produce liquefied natural gas (LNG) is a practical manifestation of the new economic model for the comprehensive monetisation of hydrocarbon resources.
This enterprise is of great significance for Russia’s social and economic development. The plant will make it possible to increase Russian exports of LNG and liquefied petroleum gases (LPG). The production of ethane, which is in high demand in the domestic industry, will grow substantially.
The complex will have the largest capacity in Russia in terms of gas processing (45 billion cubic metres per year) and will be the largest in northwestern Europe in terms of LNG production (13 million tons per year).
By now, the basic design solutions for the project, as well as the specifications for feedstock and commercial products, have been agreed upon. The project operator has been issued the technical specifications for connecting the complex to Gazprom’s gas transmission system, and the drafting of the design documentation has begun. Engineering surveys have been fully completed at the construction site, which is currently being cleared and prepared for construction works.
Meanwhile, efforts are underway to attract project financing from Russian and international credit institutions.