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LPG transporting terminal in the territory of the sea trading port Ust-Luga

SIBUR acquired a 100 percent stake in Portenergo LLC, a building owner of a complex for liquefied petroleum gas (LPG) transportation in the territory of the sea trading port Ust-Luga.

Formerly SIBUR has signed a memorandum with Ust-Luga Company JSC concerning the project plan for the construction of LPG transporting terminal.

In March 2007, Interagency committee of Leningrad region Authorities approved the Portenergo LLC intension to start the construction of an LPG transporting complex. Among other things, the Declaration submitted contains the preliminarily approved environmental impact assessment (EIA) report. All the necessary soil and water protection measures will be taken during construction and operation of the complex.

Upon the first construction stage completion the terminal will be capable of transporting 300-400 kta of LPG. After it reaches the maximum rated capacity the company will evaluate the market opportunities for the second stage of the terminal construction for additional 600-700 kta of LPG.

The start-up of the complex is expected in 2012.