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Russia's Gazprom sells 80% stake in unused Baltic LNG site to Sibur petrochemical group

March 16/2012

(chemnet) -- Russian gas giant Gazprom has sold its 80% holding in the Baltic LNG project to the Sibur petrochemical group, Baltic LNG general director Alexander Krasnenkov said in an interview published in Gazprom's corporate magazine Wednesday.

Sibur is in talks to acquire the remaining 20% in the project from Russia's largest shipper, Sovcomflot, Krasnenkov added.

The petrochemical company plans to use Baltic LNG's 120 hectare property to build a methanol plant, he said, reiterating a statement made in March 2011 to Gazprom's corporate publication.  "Other companies may join the methanol plant project," Kransenkov added, providing no further details.

Gazprom abandoned plans to build the Baltic LNG plant in February 2008.

Initially, Gazprom had planned to build a 5.0-7.2 million mt/year LNG plant near the Primorsk port on the Baltic coast, "but the project didn't seem effective enough to Gazprom, so the decision was made to reject it in favor of Shtokman," Krasnenkov said in March 2011, referring to the giant gas project in the Barents Sea.


mrcplast.com

Author:Anna Larionova
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Category:General News
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