Gazprom Neft Fulfills Obligations under Sales Contract of NIS Shares
OREANDA-NEWS. May 12,
Modernization of production processes is a fundamental to
The new facility will improve the quality of the output. In particular, the refining depth will increase up to 84%, and the yield of light products with improved quality — up to 76%. Furthermore, the environmental safety will be improved. The volume of polluting emissions discharged into the atmosphere, including particulates, will be cut to the level required by the standards of the European Union.
As a result of the modernization project, the processing capacity of the refinery will reach a maximum of 4.8 million tons per year, making it possible to fully satisfy the needs of
Bringing the hydrocracking and hydrorefining facility into operation will provide
In addition to the hydrocracking and hydrotreatment facility (MHC/DHT), the modernization program for the NIS refinery complex includes the construction of a hydrogen unit, sulfuric-acid recovery unit, and a tank farm for liquid gas in an industrial zone in Panchevo, as well as the renovation and construction of the plant’s infrastructure, reconstruction of the fluid catalytic cracking (FCC) system, and a freight dock.
Construction of the hydrocracking and hydroretreatment facility at the Panchevo refinery will be completed in the third quarter. The facility is slated to be brought into operation in November 2012.
Vadim Yakovlev, chairman of the NIS Board of Directors and first deputy CEO of Gazprom Neft, said: “Gazprom Neft has fulfilled its investment obligations ahead of the schedule specified in the sales contract. This again confirms that the Government of the