LUKoil to make investment decision on gas chemical complex in Budennovsk after gas analysis
LUKoil plans to make a final investment decision on construction of the gas chemical complex in Budennovsk after analysis of gas extracted on Kuvykin field in the Caspian Sea, reported Interfax quoting LUKoil President Vagit Alekperov.
“In the Caspian Sea we have different fields with different content of ethanol. We would like to launch the first gas refining plant with the capacity up to 3 billion cub.m. to perform a deep analysis of the Kuvykin gas condensate field and then make a final investment decision on the gas composition. Chemistry depends on the gas composition, if liquid fractions are enough for its economic refining,” he explained.
Alekperov reminded that the companies will have to implement the investment decision to the amount over $3 billion. “This is actually construction of a new plant and for this reason we are very careful about that. We will not make a decision until the wells are drilled and gas quality is established,” http://rusenergy.com quoted Alekperov as saying.—0--
Economics
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Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
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Azerbaijan has made significant progress in diversifying its energy balance, with renewable sources playing an increasingly important role in the country's electricity production. Operational data for January-August 2024 show that total electricity generation reached 19,235.4 million kilowatt-hours (kWh), marking a noticeable shift towards greener energy.
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Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
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