OREANDA-NEWS. SIBUR acquired a 100 percent stake in Portenergo LLC, a building owner of a complex for liquefiedpetroleum gas (LPG) transportation in the territory of the sea trading port Ust-Luga.

Formerly SIBUR has signed a memorandum with Ust-Luga Company JSC concerning the project plan for the construction of LPG transporting terminal.

In March 2007, Interagency committee of Leningrad region Authorities approved the Portenergo LLC intension to start the construction of an LPG transporting complex. Among other things, the Declaration submitted contains the preliminarily approved environmental impact assessment (EIA) report. All the necessary   soil and water protection measures will be taken during construction and operation of the complex.

As a customer, Portenergo LLC will continue preparing and getting approvals of the project documentation. Forecasted terms for the construction start-up are 2008. The first start-up of the complex is expected  in 2010.

Upon the first construction stage completion the terminal  will be capable of transporting 300-400 KTA of LPG. After it reaches the maximum rated capacity the company will evaluate the market opportunities for the second stage of the terminal construction   for additional 600-700 KTA of LPG.

In 2006 SIBUR produced 2,9 mln tons of LPG.

“Implementation of projects for the development of our gas refineries will result in the increase of LPG output. The construction of the sea terminal will allow to enhance SIBUR export possibilities in the advanced Western European markets”, - the SIBUR LLC President Dmitry Konov said.