25 May 2010 11:52 [Source: ICIS news]
MOSCOW (ICIS news)--Russia's petrochemical company Sibur has started constructing a new port to export liquefied petroleum gas (LPG) and light oil products to Western Europe, the company said on Tuesday.
Sibur's subsidiary Sibur-Portenergo is constructing the export port terminal in Ust-Luga in the ?xml:namespace>
The new port facilities will have the capacity to export 1.5m tonnes/year of LPG and 2.5m tonnes/year of light oil products, it said.
The construction of the sea terminal would raise Sibur's capability to export to Western European markets, Sibur added.
In 2009, Sibur produced 3.35m tonnes of LPG, representing a 7.3% increase year-on-year, according to the company.
In June 2007 Sibur acquired a 100% stake in
Portenergo previously planned to start building the terminal in 2008 and complete the first stage of the project by 2010. However, only in January Sibur announced that the Russian government had approved its Ust-Luga project.
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections