Arctic LNG 2 Project : Novatek, Total and the other participants have approved the final investment decision (FID) for a liquefied natural gas (LNG) development on the Gydan peninsula in the Russian Arctic region, as per the latest Russian oil and gas industry news. Arctic LNG 2 Project capacity The project Arctic LNG 2 with […]
Russian petrochemicals company Sibur has upgraded its terephthalic acid production facility (TPA production facility) at its Blagoveshchensk site in Russia to meet the growing demand for the polymer in the country and phase out reliance on imports. The upgrade will increase the capacity of the country’s only terephthalic acid production facility from 272,000 to 350,000 tons […]
Arctic LNG 2 project contract : Novatek has awarded TechnipFMC an engineering, procurement and construction contract (EPC contract) worth $7.6 billion for the Arctic LNG 2 project in West Siberia in Russia. Under the Arctic LNG 2 project contract, TechnipFMC, which will execute the work under a lump sum and reimbursable basis, will provide engineering, […]
AAEM, a joint venture of GE Power and Atomenergomash, has secured a contract to provide turbine island equipment for the 4.8GW El Dabaa nuclear power plant, which is being built with an investment of $30 billion in Egypt. El Dabaa, which is the first ever nuclear power plant in Egypt, is being constructed 6km from […]
Food processing news : Lamb Weston / Meijer and Belaya Dacha Group have opened their jointly owned RUB8.7 billion (€115 million) french fry factory in Lipetsk in western Russia. Lipetsk French Fry Factory in Russia According to Lamb Weston / Meijer, the French fry plant will help in meeting almost all of the import demands […]
Cigarette industry news : Japan Tobacco (JT), a Japanese government-controlled cigarette manufacturing company has made a deal to acquire Russian tobacco company Donskoy Tabak (DT) for about RUB90 billion ($1.6 billion). Japan Tobacco acquisition of Donskoy Tabak is to help the Japanese firm to strengthen its leading position in Russia, which is among the top […]
Food acquisition news : US food processing company Archer Daniels Midland (ADM) has struck a deal to acquire a stake of 50% in the starches and syrups business of Aston Foods and Food Ingredients, a Russian food company. The financial details of the deal have not been disclosed. As per the terms of the deal, […]
Retail acquisition news : State-controlled Russian bank VTB Group has agreed to buy out a 29.1% stake in Russian supermarket chain Magnit for a sum of nearly RUB 138 billion ($2.45 billion) from its owner and founder Sergei Galitsky. Established in 1994, Magnit has emerged as a leading Russian food retailer with a total of […]
Energy acquisition : In the latest oil and gas industry news, CEFC China Energy Company has agreed to buy a stake of 14.16% in Russian oil giant Rosneft Oil Company for $9.1 billion from the consortium of Swiss mining company Glencore and Qatar Investment Authority (QIA). The acquisition of the Chinese oil and gas company […]
In what is the largest FDI deal in Indian history, Russian petroleum giant Rosneft and Dutch-based Trafigura Group have acquired 49% each in India’s Essar Oil Limited at a total sum of INR 72,800 crore ($10.9 billion). Apart from the $10.9 billion deal, an additional INR 13,300 crore ($2 billion) will be paid for the […]