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Sergey Shtepa signed an agreement with PJSC Gazprom and the Government of Astrakhan region

gor Babushkin, Governor of Astrakhan region, Alexey Miller, Chairman of the Management Committee of PJSC Gazprom and Sergey Shtepa, Executive Director of Caspian Innovation Company LLC concluded an Agreement on cooperation in implementing the project on creating a gas chemical complex (GCC) for plastic production in the region.

According to the document, Caspian Innovation Company will build capacities on plastics production as well as research center on development of new plastics and polymer composite materials.

Ethane fraction will become a raw material for the gas chemical complex - it will be extracted from the natural gas at the capacities of the Astrakhan Gas Processing Plant (AGPP). This is the first time ethane will be produced from natural gas in the region. For this purpose, Gazprom will reconstruct process units of the AGPP in parallel with the construction of the gas chemical complex.

The regional government in turn will assist the companies in settling land issues, obtaining necessary permits and approvals for a successful implementation of the project.

Alexey Miller and Sergey Shtepa also signed a preliminary contract between Gazprom and Caspian Innovation Company for the ethane fraction supply. The document fixes the main conditions of ethane fraction supplies to the Astrakhan Gas Chemical Complex.

Implementation of the project will create a competitive plastic and hydrogen production facility in the Astrakhan region and create additional opportunities for development of the region's industrial potential.

Reference

In June 2017 at the St. Petersburg International Economic Forum, Gazprom PJSC and Caspian Innovation Company LLC signed a Memorandum of Cooperation to establish a gas chemical complex in the Astrakhan region.