Chinese Firm to Produce Methanol in Russia: Press
A Hong Kong-registered company called Sherwood Energy plans to build what would be the Russian Far East’s largest methanol complex, Moscow business daily Kommersant reported on September 4.
Sherwood, a subsidiary of China’s Sirus Holding, intends to enter a deal with Russia’s Far East Investment and Export Agency (ANO API) to develop the complex in the Khabarovsk region, the news agency said. The plant would produce 7.2mn mt/yr of methanol, using natural gas as feedstock. This gas would be pumped from fields in western Yakutia via a new 1,200-km, 20bn m3/yr pipeline.
Citing Anastasia Nabatchikova, the head of ANO API’s petrochemical department, Kommersant said the project would cost rubles 740bn ($11.2bn) to implement. This would include rubles 250bn of investment in exploration and development of gas deposits, rubles 150bn to build the pipeline and rubles 340bn to construct the complex itself and additional infrastructure.
Sherwood and ANO API will sign an agreement on the project at the Eastern Economic Forum, which is taking place in Vladivostok between September 4 and 6, Kommersant said.