LUKOIL to invest US$3 bln in petrochemical complex in Stavropol Territory

19-Sep-11
Russia's largest oil company LUKOIL plans to start construction of a petrochemical complex in Stavropol Territory in October, as per Russia 24, at an investment outlay of US$$3 bln. As per a 112 billion rubles construction deal inked by LUKOIL and the Stavropol Territory in Q3- 2009, the complex will be built in Budyonnovsk, with initial production scheduled to launch in 2015-2016. The complex will process oil from the North Caspian. The gas pipeline for the complex will have a cap of 5 billion cubic meters of gas annually, 40% of products will be exported.
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