LNG

A South Korean company has won a contract for a mega-scale gas and chemical plant in Russia, defeating European competitors for the building of the biggest complex of its kind with capacity to turn 45 billion cubic metres of natural gas into LNG and chemical products.

Gazprom said an engineering, procurement and construction contract as well as supply accords had been signed as part of the Baltic LNG and chemicals complex development at Ust-Luga, west of St Petersburg.