LUKOIL and Chinese CC-7 entered into an agreement on a gas chemical complex in the Stavropol region
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LUKOIL and the Chinese national chemical engineering and construction company Seven (CC-7) entered into a cooperation agreement on a project to create a gas chemical complex in Budennovsk in the Stavropol Territory. The document involves the development of project documentation together with Russian organizations.
LUKOIL and the regional leadership are also considering the possibility of concluding a special investment contract for the implementation of the project. “The project will make it possible to effectively monetize gas from the fields of the LUKOIL group in the Northern Caspian Sea through the production of urea, which is in demand in the global mineral fertilizer market,” it is said in press release Russian company.
CC-7 is a subsidiary of the Chinese company CNCEC. LUKOIL reported that it was considering the construction of a gas chemical complex in Budyonnovsk for the production of chemicals, polyethylene and polypropylene. At the end of the first half of the year, the company’s net profit according to IFRS increased by 86% year-on-year, to RUB 564.1 billion.
Details – in the material “Kommersant” “The Russian fuel and energy complex pays in full”.
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