PJSC LukOil LUKOIL Continues Upgrade of Stavrolen Plant (3526O)
07 Octubre 2021 - 4:30AM
UK Regulatory
TIDMLKOD
RNS Number : 3526O
PJSC LukOil
07 October 2021
LUKOIL CONTINUES UPGRADE OF STAVROLEN PLANT
Vagit Alekperov, President of PJSC LUKOIL, and Andrey
Khlopyanov, acting First Deputy Chairman of the Government of
Stavropol region, took part in today's foundation stone ceremony
for the second stage of Gas Processing Unit (GPU-2) at the
Stavrolen petrochemical plant in the city of Budennovsk.
The construction of GPU-2 will enable to increase the
utilization of associated petroleum gas delivered to the facility
from North Caspian fields to 5 bcm per year. This will provide a
greater volume of valuable feedstock for pyrolysis (ethane and
natural gas liquids ) used at Stavrolen to manufacture commercial
products.
GPU-2 is the first unit to be built under the Stavrolen
integrated development program. LUKOIL plans to increase the
capacity of pyrolysis units, as well as produce a greater amount
and a wider variety of polyethylene and polypropylene.
It is expected that the implementation of the program will
increase Stavrolen's capacity to produce ethylene from 350 to 420
thousand tonnes per year, polyethylene - from 300 to 405 thousand
tonnes per year, and copolymer polypropylenes - from 80 to 120
thousand tonnes per year.
"The Stavrolen integrated development program is an essential
part of our petrochemical strategy, which envisages use of our own
feedstock. It is also an efficient monetization tool for the North
Caspian natural gas. The growth of the share of gas production and
development of gas processing facilities fall in line with the
global trend towards energy transition and corresponds with
LUKOIL's climate strategy. We believe that our total investments
into integrated development of petrochemi cal value chain in the
Caspian region might total around 300 billion rubles," said Vagit
Alekperov, President of PJSC LUKOIL.
"Implementation of the projects at Stavrolen is strategically
important for the Stavropol region. It means new investments, new
jobs, and extra budget revenues. Given Stavrolen's operating
results this year, we expect it to pay a significant amount of
taxes to federal, regional, and local budgets," noted Andrey
Khlopyanov, acting First Deputy Chairman of the Government of
Stavropol region.
For reference:
Stavrolen LLC (a wholly owned subsidiary of PJSC LUKOIL) is one
of the major taxpayers in the Stavropol region and a city-forming
enterprise of Budennovsk. The plant plays a key role in stable
development of the entire Stavropol region, as well as its eastern
area.
LUKOIL had already implemented there a large-scale investment
project of launching the first complex of the gas processing unit
with an annual feed rate of 2.2 bcm. This enabled the plant to
manufacture petrochemicals (polyethylene, polypropylene) out of its
own gas feedstock .
In 2020, Stavrolen produced 343 thousand tonnes of ethylene, the
largest volume ever. Polyethylene production reached 319 thousand
tonnes, and polypropylene production - 113 thousand tonnes. In
2021, Stavrolen produced its 8-millionth tonne of polyethylene.
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