Exec: Gazprom to invest up to $7 bln in refinery in Murmansk Reg

MOSCOW, Sep 14 (PRIME) — The investments of Russian natural gas monopoly Gazprom into the construction of a refinery in the Murmansk Region are expected to range from U.S. $3 billion to $7 billion, Gazprom Neft Shelf CEO Alexander Mandel said Wednesday, RIA Novosti reported.

Gazprom Neft Shelf, a subsidiary of Gazprom, owns a license for the Shtokman gas field.

Gazprom is currently working on a feasibility study for the project, Mandel also said, adding that the refinerys annual capacity could amount to 5 million10 million tonnes.

The refinery is expected to process oil produced at the Shtokman gas field, as well as at the Prirazlomnoye, Medynskoye, Dolginskoye, and the Varandei fields in the Pechora Sea.


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