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Maire Tecnimont strengthens Russian presence at SPIEF 2019

Published by , Editorial Assistant
World Fertilizer,

Maire Tecnimont has announced that a number of agreements has been signed during the St. Petersburg International Economic Forum (SPIEF) 2019, the international conference dedicated to key economic issues facing Russia and CIS countries.

The agreements have been signed at the presence of government officials of the countries involved.

In particular, Gazprombank and Maire Tecnimont signed a memorandum of understanding (MOU) in the area of financing for the implementation of oil, gas and petrochemical projects in the Russia and the CIS countries. The agreement was signed by Deputy Chairman of Gazprombank, Alexey Belous, Maire Tecnimont Group CEO, Pierroberto Folgiero, and Managing Director of GPB International S.A., Sergei Nekrasov.

The agreement provides opportunities for Gazprombank to participate in financing the company’s clients’ projects and in cooperation projects with industrial companies with Gazprombank’s participation.

Moreover, SAFMAR Group, one of Russia’s largest industrial and financial groups, which includes large Russian oil-producing and oil-refining companies (Russneft, Neftisa, Forteinvest), Maire Tecnimont Group, through its subsidiary MET Development, and New Gavan, the owner of the ‘Novaya Gavan’ sea terminal, jointly signed an MOU to develop, build, finance, maintain and operate a green-field methanol plant, to be implemented in the port of Ust Luga, the biggest port of the Baltic Sea, 110 km west of St. Petersburg.

The agreement was signed by Chairman of SAFMAR Group, Mikhail Gutseriev, Chairman of Maire Tecnimont, Fabrizio Di Amato, and Chairman of New Gavan, Sherbakov Denis.

The methanol plant will have a capacity of 5000 tpd. Total investment cost for the project is preliminarily estimated to be in excess of €1 billion.

Parties agree to discuss a joint development agreement, which would initiate the front-end engineering design under the coordination of Tecnimont S.p.A, the group’s main EPC contractor, and a Russian design institute.

In parallel, parties intend to set-up a JV and will closely collaborate in the project structuring activities in order to raise non-recourse project financing. The parties intend to raise financing from international banks with the support of one or more export credit agencies.

During SPIEF, the company participated to the opening ceremony of the new EuroChem ammonia production plant of Kingisepp, organized by the client EuroChem to celebrate the plant in operation.

Pierroberto Folgiero, Maire Tecnimont Group CEO, commented: “Our history in Russia dates back to the 1930s, boasting more than 80 petrochemicals, oil & gas, and fertilizers plants completed in the area, so it feels like home to us. We are enthusiastic to be here at the St. Petersburg International Economic Forum, a platform to build up alliances and start new fruitful relationships. These MOUs provide further evidence of the group’s strategic and proactive approach focused on an early involvement in clients’ investment initiatives, including their financing architecture”.

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