Methanol plant with capacity of 1.65 million tons is planned to be built in the Leningrad region

A Methanol plant with capacity of 1.65 million tons is planned to be built in the Leningrad region. The Methanol Severny project was initiated by the engineering construction company NGSK, the Rossiyskaya gazeta reports.

According to company’s general director, Sergei Kolesnikov, to date a feasibility study of the project has been made, an analysis of Russian and world market of methanol and its derivatives has completed and the main directions of the processing and marketing have determined.

"Up to 80% of the plant’s product is planned to be supplied to foreign countries, and no more than 20% to the domestic market," - said Kolesnikov. The export direction of the sales policy determined the need to organize the enterprise near the port of Ust-Luga.

The start of the design works is scheduled for the first quarter of 2015, the construction company is supposed to begin in the first six months of 2016. The launch of the enterprise is scheduled to be carried out in the second half of 2018.

As of start of 2014, 9 methanol plants worked in Russia. The total capacity of units is 4 million tons per year. Last year, the companies produced 3.56 million tons of methanol.